True and False:

1.Greater risk of misstatement requires a lower quantity of audit evidence ()

2.Higher qualityaudit evidence resultsin a lower quantity of audit evidence.()

3.Appropriateness is a measure of the quantity of audit evidence. ()

Answer the following Questions:

1.What does Audit Evidence Refer to and why do auditor collect them?

2.What does Audit Risk refer to

3.In order to have a proper evaluation of evidence it require an understanding of two things, what are they?

4.What are the differences between Vouching and Sourcing

5.What is the difference between Incorrect Rejection and Incorrect Acceptance

6.What does audit sampling refer to and why it important to auditor to select a proper sampling?