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A. Extent included the quantity of a specific audit procedures to be performedB. The extent of an audit procedure is determined by the judgment of the auditor afterconsidering the materiality, the assessed risk, and the degree of assurance the auditorplans to obtainC. The auditor ordinarily decreases the extent of audit procedures as the risk of materialmisstatement increasesD. Increasing the extent of an audit procedure is effective only if the audit procedure itself isrelevant to the specific risk5. The auditor should design and perform further audit procedureswhose nature, timing and extent are responsive to the assessedrisks of material misstatement at the assertion level. Which ofthe following is the most important consideration in respondingto the assessed risk?A. The nature of the audit proceduresB. The timing of the audit proceduresC. The extent of the audit proceduresD. All of these are equally important
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Term
Fall
Professor
N/A
Tags
Financial audit, Assessed Risk

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