Author Question: An acceptable audit risk assessment of low indicates a risky client requiring more extensive ... (Read 46 times)

meganh99 · **on:** Aug 21, 2022

Question 1

When the auditor is attempting to determine the extent to which external users rely on a client's financial statements, they may consider several factors except for
◦ client size.
◦ concentration of ownership.
◦ nature and amounts of liabilities.
◦ assessment of detection risk.

Question 2

An acceptable audit risk assessment of low indicates a risky client requiring more extensive evidence, assignment of more experienced personnel, and/or a more extensive review of audit files.
◦ true
◦ false

3ginamay · **Reply #1 on:** Aug 21, 2022

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