A Pressure on Auditors to Maintain Good Client Relationships to Ensure

question 20

Multiple Choice

A pressure on auditors to maintain good client relationships to ensure future audit engagements leads to a change in thinking that could _________.

• A)weaken professional skepticism
• B)strengthen tests of controls
• C)reduce significant risk
• D)increase quantitative materiality

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Definitions:

Flip A Coin

A basic probability experiment involving tossing a coin to observe whether the outcome is heads or tails.

Probability

The estimation of the chances of an event taking place.

Sample Proportion

A statistical measure that represents the fraction of the sample that has a particular characteristic.

Probability

An assessment of event occurrence likelihood, denoted as a fraction or decimal between 0 and 1.