Week4 - These factors that affect auditing can be at any...

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Varney Kennedy 9-21 It is a wise decision to determining additional evidence or documentation but in doing so, the auditor must be careful. He could start to experience the assessment of inherent risk or control either too high or too low; or an acceptable audit risk that could also be low or high. 9-22 a. 4 b. 4 c 1 9-23 a. 1 b. 1 c. 1 9-27 A. Audit planning decisions a. Preliminary judgment about materiality b. Tolerable misstatement c. Inherent risk d. Control risk e. Risk of fraud f. Acceptable audit risk g. Planned detection risk B. Audit conclusions a. Estimated total misstatement in a segment b. Estimate of the combined misstatements C. Audit conclusions
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Unformatted text preview: These factors that affect auditing can be at any time in accordance with ASB. 10-20 The walkthrough of the internal control process start with the auditor having the necessary understanding of internal control. The first step is obtaining and documenting the understanding of the internal control process. In step two, the control risk must be assess and step three, designing, performing, evaluating test of control must be implemented and the last part is the decision you must make in the detection or risk and substantive tests. 10-32 a. 3 b. 3 c. 4 d. 4...
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This note was uploaded on 09/28/2009 for the course AUDITING 555 taught by Professor Linda during the Spring '09 term at Yale.

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Week4 - These factors that affect auditing can be at any...

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