Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

6. following are presumptions about the effects of the source of the information on the reliability of audit evidence except: a) b) c) Audit evidence

6. following are presumptions about the effects of the source of the information on the reliability of audit evidence except:
a) b) c)
Audit evidence from external sources is more reliable than that obtained from the entitys records.
Audit evidence obtained from the entitys records is more reliable when the related internal control structure operates effectively.
Evidence obtained directly by the auditors is less reliable than evidence obtained by or from the entity.
Business Administration Program Final Assessment Semester Fall 2020
Page 2
d) Evidence in the form of documents and written representations is more reliable than oral representations.
a) Professional Judgement
b) Reasonable Basis
c) Professional Skepticism
d) Gathering Audit Evidence
8. The following are characteristics of audit sample except:
7. different auditors will not always reach identical conclusions about the quantity and quality of evidence needed to reach an opinion on financial statements is referred to:
a) b) c) d)
9. One of a.
b.
c.
Random
Representative
Protective
Predictable
the advantages of using Monetary Unit Sampling is:
It is affected by variability and, therefore, it is easy to determine sample size.
It is mathematically simple and, therefore, easy to apply, especially if computer assistance is available.
It usually enables conclusions to be drawn on the basis of large sample sizes where the auditors expect no or few errors.
d.
10. The auditor should resign if:
Individually material items are automatically selected for sampling.
a. the organization does intend to take any form of remedial action
b. the directors refuse to release accounts
c. auditors are given an opportunity to communicate their concerns to members
d. the directors agree to release accounts

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Accounting

Authors: Joe Ben Hoyle, Timothy S. Doupnik, Thomas F. Schaefer, Oe Ben Hoyle

9th Edition

007337945X, 978-0073379456

More Books

Students also viewed these Accounting questions

Question

Solve the inequality |x 1| |x + 2|.

Answered: 1 week ago