This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following statements regarding inherent risk is correct? (Read 122 times)

Darron12

  • Full Member
  • ***
  • Posts: 158
on: Aug 21, 2022

Question 1

Which of the following is not a primary consideration when assessing inherent risk?
◦ nature of client's business
◦ existence of related parties
◦ effectiveness of internal controls
◦ susceptibility to misappropriation of assets

Question 2

Which of the following statements regarding inherent risk is correct?
◦ Inherent risk is unaffected by the auditor's experience with client's organization.
◦ Most auditors set a low inherent risk in the first year of an audit and increase it if experience shows that it was incorrect.
◦ Most auditors set a high inherent risk in the first year of an audit and reduce it in subsequent years as they gain more knowledge about the company.
◦ Inherent risk is dependent upon the strengths in client's internal control system.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Darron12 on Aug 21, 2022

ryanb

  • Full Member
  • ***
  • Posts: 164
Reply #1 on: Aug 21, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 39% of students answer this correctly


Darron12

  • Member
  • Posts: 158
Reply 2 on: Aug 21, 2022
Excellent

amandanbreshears

  • Member
  • Posts: 320
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

Many medications that are used to treat infertility are injected subcutaneously. This is easy to do using the anterior abdomen as the site of injection but avoiding the area directly around the belly button.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

The correct statement about hormones-insulin and glucagon The correct statement about hormones-insulin and glucagon
Ratings of Perceived Contradictions in Political Statements Ratings of Perceived Contradictions in Political Statements
A basic principle of symbolic interactionism is that meaning is not inherent in an object or event, ... A basic principle of symbolic interactionism is that meaning is not inherent in an object or event, ...
If the valve clearance (lash) is not correct, loosen the retaining nut and turn the valve adjusting ... If the valve clearance (lash) is not correct, loosen the retaining nut and turn the valve adjusting ...
Suggested Antibiotic Prophylaxis Regimens in Patients at Potential Increased Risk of Hematogenous ... Suggested Antibiotic Prophylaxis Regimens in Patients at Potential Increased Risk of Hematogenous ...
Vial Washing System - Risk Based Approach Vial Washing System - Risk Based Approach
Video: Methods that regulate pH

For a complete list of videos, visit our video library