When Would Auditors Want to Decrease the Risk That Their

question 18

Multiple Choice

When would auditors want to decrease the risk that their audit procedures will not detect a material misstatement?

• A)When detection risk is high
• B)When detection risk is low
• C)When inherent risk is low
• D)When control risk is low

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Definitions:

Busy Executives

Refers to high-level professionals who have a significant amount of responsibilities and limited time, often a target market for products or services designed to save time or increase efficiency.

Prospecting Method

A technique used in sales to identify and develop new potential customers or clients.

Sales Situation

A scenario or environment in which a sales transaction or conversation occurs, often involving interactions between a seller and a potential buyer.

Telephone

A telecommunications device designed to transmit and receive sound, most commonly voice, across distances.