auditing

Applicable Term Availability bias Availability bias Audit evidence Partial (or completo) Definition or Illustration 1 Overvaluing information that quickly comes to mind. 2 Starting with an initial belief and then insufficiently adjusting that belief when contrary information is encountered. 3 Seeking and treating as more persuasive information that is consistent with one's beliefs. 4 Overestimating one's abilities 5 All information prepared within the nudited organization 6 Information used by the auditor that corroboratos or contradicts the assertions in the financial statements 7 Information used by the auditor that corroborates the assertions in the financial statements B The link that the auditors' procedures will lead them to conclude that a mostatomont does not exist when in fact it does exist o The risk that a material misstatement that could ocour will not be prevented or detected on a timely basis. 10 A financial statement assertion that is probable of misstatement given the nature of the further audit procedures performed 11 A financial statement assertion that has a reasonable possibility of containing a misstatement or misstatements that would cause the financial statements to be materially misstated 12 A financial statement assertion that has a reasonable possibility of containing a misstatement or misstatements that would cause the financial statements to be materially or immaterially misstated 13 An attitude that includes a questioning mind and a critical assessment of audit evidence 14 An attitude that includes a subjective mind and a detailed assessment of audit evidence. 15 Every assumption relating to a significant financial statement assortion. 16 As related to an accounting estimate, an assumption for which a reasonable variation would materially affect the measurement of that accounting estimate Relevant assertion Professional skepticism Significant assumption