The Exception Rate the Auditor Will Permit in the Population

question 61

Multiple Choice

The exception rate the auditor will permit in the population and still be willing to use the assessed level of control risk is called the

• A)tolerable exception rate.
• B)estimated population exception rate.
• C)acceptable risk of overreliance.
• D)sample exception rate.

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Definitions:

Decision Making Process

A systematic approach to making choices among various options based on criteria and logical considerations.

Action Item Registers

A list or record used to track tasks or actions that need to be completed, often used in meetings or project management to ensure accountability.

Internet-Based Tools

Software or applications accessible online that facilitate various tasks, including communication, project management, and data analysis.

Responsibility Matrices

Tools used in project management to define and document the roles and responsibilities of individuals or teams in delivering tasks or objectives.