What Do Auditors Consider When Determining the Extent to Which

question 76

Multiple Choice

What do auditors consider when determining the extent to which the internal auditors' work will affect the auditors' procedures?

• A)The materiality of the account balance or transaction, the risk of material misstatement of the assertions, and the amount of subjectivity involved in evaluating the evidence gathered.
• B)Only the materiality of the account balance or transaction and the risk of material misstatement of the assertions.
• C)Only the risk of material misstatement of the assertions related to the account balance, transaction, or disclosure and the amount of subjectivity involved in evaluating evidence gathered.
• D)Only the amount of subjectivity involved in evaluating the evidence gathered.

---

Definitions:

Closing Values

A term often used in finance and investing to refer to the final price of a stock or asset when the market closes for the day.

High

A term which can refer to an elevated status, level, or degree of something, often used in a comparative context.

Categorical

Pertaining to data that can be divided into specific groups or categories that are qualitatively distinct.

Tossing

The act of throwing something lightly or casually, often used in the context of flipping a coin or similar objects.