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 133 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
YES! Correct, THANKS for helping me on my review

nanny

  • Member
  • Posts: 313
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

The term bacteria was devised in the 19th century by German biologist Ferdinand Cohn. He based it on the Greek word "bakterion" meaning a small rod or staff. Cohn is considered to be the father of modern bacteriology.

Did you know?

Hip fractures are the most serious consequences of osteoporosis. The incidence of hip fractures increases with each decade among patients in their 60s to patients in their 90s for both women and men of all populations. Men and women older than 80 years of age show the highest incidence of hip fractures.

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

Did you know?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

CHD Risk Factors CHD Risk Factors
Summary of Hale’s Lactation Risk Categories Summary of Hale’s Lactation Risk Categories
Risk assessment codes for an HIV-infected patient. Risk assessment codes for an HIV-infected patient.
Vial Washing System - Risk Based Approach Vial Washing System - Risk Based Approach
Correct alignment for stacking the joints to apply thumb pressure to acupoints. Correct alignment for stacking the joints to apply thumb pressure to acupoints.
Describe the development of atherosclerosis, including its role in the risk of heart disease Describe the development of atherosclerosis, including its role in the risk of heart disease
Video: Arthritis

For a complete list of videos, visit our video library