Question
question 7.5 on the document i am looking at has no answer. The relationship between the audit risk percentage, reliance on substantive procedures, and evidence
question 7.5 on the document i am looking at has no answer.
The relationship between the audit risk percentage, reliance on substantive procedures, and evidence persuasiveness is: (Note: high audit risk is assessed at 5%; low audit risk is assessed at 2%)
a. Low audit risk, higher reliance on substantive testing, lower evidence persuasiveness required.
b. High audit risk, more reliance on substantive testing, higher evidence persuasiveness required.
c. Low audit risk, less reliance on substantive testing, higher evidence persuasiveness required.
d. High audit risk, less substantive testing, lower evidence persuasiveness required.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started