Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

inherent risk is the: a. probability that some accounts are more susceptible to miss statement than others b. probability that the client's internal control policies

inherent risk is the: a. probability that some accounts are more susceptible to miss statement than others b. probability that the client's internal control policies and procedures will fail to detect material misstatement c. probability that material misstatements have occurred in transactions entering the accounting system used to develop financial statements d. probability that the auditor may not detect material misstatements in the financial statements

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_2

Step: 3

blur-text-image_3

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

Using Financial Accounting Information The Alternative to Debits and Credits

Authors: Gary A. Porter, Curtis L. Norton

7th Edition

978-0-538-4527, 0-538-45274-9, 978-1133161646

More Books

Students also viewed these Accounting questions

Question

What are some risks are associated with financial decisions?

Answered: 1 week ago