Although There Are a Number of Organizations That Provide Detailed

question 40

Multiple Choice

Although there are a number of organizations that provide detailed guidance, it is still necessary for auditors to rely on other direction regarding the types of audit tests to use and the manner in which the conclusions are drawn.These sources of information include:

• A)Industry Guidelines
• B)PCAOB
• C)ASB
• D)ASACA

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Definitions:

Type II Error

In statistical hypothesis testing, the error that occurs when one fails to reject a false null hypothesis (a false negative).

Significant

Indicates that the results in statistical analysis are likely not due to chance, and there is a certain degree of reliability in the findings.

Power

The probability that a statistical test will correctly reject a false null hypothesis, a measure of a test's capability to detect an effect when there is one.

Hypothesis Testing

A statistical method used to evaluate the plausibility of a hypothesis by using sample data.