Control Risk and the Amount of Substantive Evidence Required Are

question 10

True/False

Control risk and the amount of substantive evidence required are directly related; i.e., as control risk increases, the amount of substantive evidence the auditor plans to accumulate should increase.

---

Definitions:

Ethics Double-check

A process of verifying that actions or decisions adhere to moral and ethical standards.

Problem Definition

The process of identifying and outlining a problem or challenge in order to find workable solutions or answers.

Availability Bias

A cognitive bias that influences people to overestimate the importance of information that is readily available to them, often leading to skewed perceptions and judgments.

Anchoring Bias

A cognitive bias where individuals rely too heavily on an initial piece of information to make subsequent judgments or decisions.