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Author Question: In practice, auditors rarely assign numerical probabilities to inherent risk, control risk, or ... (Read 145 times)

erikka246

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on: Aug 21, 2022
In practice, auditors rarely assign numerical probabilities to inherent risk, control risk, or acceptable audit risk. It is more common to assess these risks as high, medium, or low. For each of the four situations below, fill in the blanks for planned detection risk and the amount of evidence you would plan to gather ("planned evidence") using the terms high, medium, or low.



Acceptable audit risk
Inherent risk
Control risk
Planned detection risk
Planned evidence
​		SITUATION
1
Low
High
High
________
________
​		SITUATION
2
Low
Low
Low
________
________
​		SITUATION
3
High
Low
Medium
________
________
​		SITUATION
4
High
Low
Low
________
________
​
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by erikka246 on Aug 21, 2022

H.cope00

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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.
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erikka246

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Reply 2 on: Aug 21, 2022
Great answer, keep it coming :)

nothere

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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