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Explain why decisions about acceptable audit risk, inherent risk, the preliminary judgment about materiality and performance materiality should be made early in the audit during
- Explain why decisions about acceptable audit risk, inherent risk, the preliminary judgment about materiality and performance materiality should be made early in the audit during the planning phase.
- Briefly summarize the information included in PCAOB AS 2110 .49-.53. How does this guidance have an effect on how we perform an audit?
- Using PCAOB AS 2110, what is the difference between a Significant Risk and Fraud Risk? Are there any items that the auditor should presume is a fraud risk? Why do you believe this is the case?
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Internal Auditing Assurance & Consulting Services
Authors: Kurt F Reading, Paul J Sobel, Urton L Anderson, Michael J Head, Sri Ramamoorti
1st Edition
0894136100, 9780894136108
