Auditors have not been successful in measuring the components of the audit risk model. How is it

Question:

Auditors have not been successful in measuring the components of the audit risk model. How is it possible to use the model in a meaningful way without a precise way of measuring the risk?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Auditing and Assurance services an integrated approach

ISBN: 978-0132575959

14th Edition

Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley

See More Books

Question Posted: Oct 10, 2012 07:24 AM

See More Questions

How is it possible to accomplish good organizational planning, and hence good human resource planning, in light of the many changing environmental factors over which the organization has no control?
Is it possible to use both a WHERE clause and a HAVING clause in the same SQL SELECT statement? If so, what are the different purposes of these two clauses?
How is it possible to ensure good advertising with some of the new ideas presented?
The Commerce Department reported that in December 2015, retail sales rose by 0.2, net exports decreased, inventories held by businesses rose by 0.1 percent, and total sales by businesses fell by 0.6...
Find a polynomial p(x) of degree 2 such that: p(0) = 5, p(1) = 3, p(2) = 5
I easily adapt to the different work ethics of students from other cultures when we are involved in a team project. 10 9 8 7 6 5 4 3 2 1 LO.1
Perform a cost/benefit analysis for the CART model with the adjusted misclassification costs. Use the same cost/benefits assignments as for the default model. Find the overall anticipated cost....
An investment will pay $15,000 at the end of each year for eight years and a one-time payment of $120,000 at the end of the eighth year. Determine the present value of this investment using a 7...
ABC Corp. has just paid a quarterly dividend of $0.34. ABC's dividends will grow by 5% for the next 4 quarters, and then grow by 0.3% thereafter. ABC has a quarterly required return of 4%. What is...
Contrast the market potential for B2B and B2C auctions.
State the three categories of factors that affect acceptable audit risk and list the factors that the auditor can use to indicate the degree to which each category exists.
Explain the circumstances when the auditor should revise the components of the audit risk model and the effect of the revisions on planned detection risk and planned evidence.
The parameters of the transistors in the circuit in Figure $\mathrm{P} 4.63$ are $V_{T N D}=$ \(V_{T N L}=0.4 \mathrm{~V}, K_{n D}=2 \mathrm{~mA} / \mathrm{V}^{2}, K_{n L}=0.5 \mathrm{~mA} /...
The Role of Leadership in Shaping Organizational Culture Recent research stated that [c]ompanies with an established organizational culture that includes strong capabilities for change, commitment to...
Unscheduled absences by clerical and production workers are an important cost in many companies. Reducing the rate of absenteeism is, therefore, an important goal for a company's human relations...
Many of the largest tech firms, including Google, Apple, Amazon, and Microsoft, have spent hundreds of millions of dollars to improve their information technology infrastructure. Now, these companies...
In the business sense, a product refers to a commodity available for purchase, encompassing both services and tangible or intangible items. It may exist in physical, virtual, or cyber forms. Every...
Data Exploration and Multiple Linear Regression (MLR) using SAS. The "College" data set contains the statistics for many US Colleges from 1995 issue of US News and World Report. It has 777...
Describe the differences between clearly determinable, estimated, and contingent liabilities. Give one or more examples of each type.
H.J. Heinzs annual dividends were as follows: 1990 ..............$0.540 1991.............. 0.620 1992 .............. 0.700 1993.............. 0.780 1994 .............. 0.860 1995 .............. 0.940...
Compare and contrast probability sampling with non-probability sampling. Why is it difficult to obtain a probability sample in tourism?
You are the in-charge accountant on the audit of Amazing Inc. (AI). It is March 25, 2019, and your firm is part way through the 2018 audit. You are currently assigned to work on various sections...
Roscoe, a public accountant, has completed the examination of the financial statements of Excelsior Corporation as of and for the year ended December 31, 2018. Roscoe also examined and reported on...
You are the audit senior who has recently been assigned to the year-end audit of Ontario Agra Corporation (OAC). After the end of the audit fieldwork, the senior on the engagement resigned suddenly...
XF Ltd. Is an expanding private company in the electric trade. Accounts preparing in January 2019 included the following information: Profit Statement for the year ended 31 st December 2018 Kshs.000...
Check On June 15, 2021, Sanderson Construction entered into a long-term construction contract to build a baseball stadium in Washington D.C., for $340 million. The expected completion date is April...
Q.1 Bassem Company purchased OMR420,000 in merchandise on account during the month of April, and merchandise costing OMR $350,000 was sold on account for OMR 425,000. Required: 1. Prepare journal...

Auditors have not been successful in measuring the components of the audit risk model. How is it

Question:

Step by Step Answer:

Exact quantification of all components of the audit risk model is ...View the full answer

Auditing and Assurance services an integrated approach

Students also viewed these Auditing questions