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:

Kansas-Nebraska Act

An 1854 legislation that created the territories of Kansas and Nebraska, leaving the decision about slavery to be determined by popular sovereignty, leading to violent conflict in the region.

Whig Party

A political party active in the middle of the 19th century in the United States, which advocated for the supremacy of Congress over the Presidency and favored modernization and economic protectionism.

American Party

A nickname for the Know-Nothing movement, a prominent United States political group in the 1850s which was anti-immigrant and anti-Catholic.

Kansas-Nebraska Act

The 1854 U.S. legislation that created the territories of Kansas and Nebraska, allowing settlers in those territories to decide whether to allow slavery, leading to significant conflict and violence.