Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 1a. what is the role of risk assessment is setting

1a. What is the role of risk assessment is setting the samplingsize in a...

90.2K

Verified Solution

Question

Accounting

1a. What is the role of risk assessment is setting the samplingsize in a substantive audit testing?-Discuss

2. Can we compare control activities and control environment?-Discuss

Answer & Explanation Solved by verified expert
3.9 Ratings (494 Votes)
Role of Risk assessment Audit has an inherent limitation with respect to time available and scope of the audit This implies that we do not have unlimited time to check each and every aspect of financial statement in details while there be still be a risk of material misstatement in the financial statements Therefore while performing a substantive audit procedure we    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Transcribed Image Text

In: Accounting1a. What is the role of risk assessment is setting the samplingsize in a substantive...1a. What is the role of risk assessment is setting the samplingsize in a substantive audit testing?-Discuss2. Can we compare control activities and control environment?-Discuss

Other questions asked by students

Q

If a patient is \"looking at you\" but what you notice is that the patient's right...

Medical Sciences
Q

Describe one mechanism by which creep deformation can occur at stress less than the yield stress

Mechanical Engineering
Q

Charles deposited $12,000 in the bank. He withdrew $5000 from his account after one year. If...

Accounting
Q

Q1 A coil of wire of area 5cm2 has 500 turns and self inductance of...

Physics
Q

Find the third derivative of f x O f x O f x 1 36x...

Calculus
Q

A population numbers 13 000 organisms initially and grows by 11 6 each year Suppose...

Algebra
Q

se the negative exponent rules to simplify Write the answer with only positive exponents 4a...

Algebra
Q

-- The real accounting issue in net income recognition is the ...

Accounting
Q

6. Mr. Kunder retired from the services of Azzure Limited, on 31st March, 2019. He...

Accounting
Q

Exercise 6-1 Variable and Absorption Costing Unit Product Costs [LO6-1] Ida Sidha Karya Company is...

Accounting
Q

Diego Company had the following department data: Accounting Transactions Transactions Physical Units Work in Process,...

Accounting
Q

Ramapo Company produces two products, Blinks and Dinks. They are manufactured in two departments, Fabrication...

Accounting