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Author Question: Risk assessment procedures are performed by auditors during an audit in order to (Read 83 times)

swande

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on: Aug 21, 2022

Question 1

Many auditors perform extensive analytical procedures because
◦ they are required by GAAS.
◦ they pinpoint errors in accounts.
◦ they indicate areas of potential risk and misstatement.
◦ they are required for tests of controls.

Question 2

Risk assessment procedures are performed by auditors during an audit in order to
◦ determine the risk of material misstatement in the financial statements.
◦ determine the amount of testing of internal control.
◦ determine the extent of testing of details of balances.
◦ determine the extent of testing of transactions.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by swande on Aug 21, 2022

lhn821

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Reply #1 on: Aug 21, 2022
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swande

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Reply 2 on: Aug 21, 2022
YES! Correct, THANKS for helping me on my review

kjohnson

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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