Quiz 8 - Quiz # 8 Introduction to audit Group Date Name...

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Introduction to audit Group Date Name Which of the following is not one of the three main reasons why the auditor should properly plan engagements? a. To enable proper on-the-job training of employees. b. To enable the auditor to obtain sufficient competent evidence. c. To avoid misunderstandings with the client. d. To help keep audit costs reasonable. A measure of how willing the auditor is to accept that the financial statements may be materially misstated after the audit is completed and an unqualified opinion has been issued is the a. inherent risk. b. acceptable audit risk. c. statistical risk. d. financial risk. A measure of the auditor’s assessment of the likelihood that there are material misstatements in an account before considering the effectiveness of the client’s internal control is a. control risk. b. acceptable audit risk. c. statistical risk. d. inherent risk. Discuss the factors an auditor should consider before accepting a company as an audit client.
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This note was uploaded on 04/03/2011 for the course AUDIT 1 taught by Professor Rcxiladze during the Spring '11 term at Georgian.

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Quiz 8 - Quiz # 8 Introduction to audit Group Date Name...

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