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Unformatted text preview: a. He has verified all aspects of the financial statements b. He could not verify any one or more aspects of the financial statements c. He had no time to verify a particular aspect of the financial statements d. He was not sure as to the accuracy of a particular aspect of the financial statements 5. Auditor normally decides, before start of an audit, his ‘confidence level’ and ‘tolerable error’. If the rate of error exceeds tolerable rate, an auditor will: a. Decrease the sample size b. Stop the audit and abstain c. Report the matter to his seniors d. Increase the sample size...
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This note was uploaded on 04/07/2012 for the course BUSINESS 1023 taught by Professor Msaeed during the Spring '12 term at CSU Channel Islands.
- Spring '12