ch 7 33 & 52
A. Net Income : If misstatement value is less than 5%, that misstatement is not material.
Accounts receivables: If misstatement is less than 1% it is not material misstatement.
Nets Sales: If material misstatement is less th
Ch 6 49, 50
Continued decline in market share, and a market shift (or an increase in or acceleration of market shift)
away from sales of trucks or sport utility vehicles, or from sales of other more profitable vehicles in t
Ch 1 HW
Comply with relevant ethical requirements
Plan & perform an audit with professional cynicism
Exercise professional judgment
Obtain sufficient appropriate evidence on which to base auditors opinion.
Conduct the audit in accorda
1. B R
2. A L
3. B/F I
Wording & Standard Audit Report is appropriate
Limitation requires qualified opinion
Unqualified would need an explanatory paragraph. Auditor can disclaim the opinion if
they believe it is more
Ch 5 58, 65, 68
58. Audit programs list the procedures that are performed in an audit. Standards provide guidance in
determining the sufficient appropriate evidence needed to provide an opinion. The steps in an audit
program are a list of pr