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# Partial (or complete) Definition or Illustration Applicable Term 1 Overvaluing information that quickly comes to mind. Anchoring bias 2 Starting with an initial belief

# Partial (or complete) Definition or Illustration Applicable Term
1 Overvaluing information that quickly comes to mind. Anchoring bias
2 Starting with an initial belief and then insufficiently adjusting that belief when contrary information is encountered. Audit evidence
3 Seeking and treating as more persuasive information that is consistent with ones beliefs. Availability bias
4 Overestimating ones abilities. Confirmation bias
5 All information prepared within the audited organization. Control risk
6 Information used by the auditor that corroborates or contradicts the assertions in the financial statements. No term applies
7 Information used by the auditor that corroborates the assertions in the financial statements. Professional skepticism
8 The risk that the auditors procedures will lead them to conclude that a misstatement does not exist when in fact it does exist. Relevant assertion
9 The risk that a material misstatement that could occur will not be prevented or detected on a timely basis. Significant assumption
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 assertion.
16 As related to an accounting estimate, an assumption for which a reasonable variation would materially affect the measurement of that accounting estimate.

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