Q33:

Which of the following services provides the lowest level of assurance on a financial statement?

Select one:

a.

External audit

b.

Neither Audit and review considered as an assurance

c.

Review

d.

Audit and review give same level of assurance

Q34:

Related into materiality. Which of the following statements is not correct?

a.

Qualitative factors as well as quantitative factors affect materiality.

b.

Materiality is a relative rather than an absolute concept.

c.

Given equal dollar amounts, frauds are usually considered more important than errors.

d.

The most important base used as the criterion for deciding materiality is total assets.