Detection Risk Is Affected by Which Aspects of Substantive Audit

question 46

Multiple Choice

Detection risk is affected by which aspects of substantive audit procedures?

• A)Nature.
• B)Timing.
• C)Extent.
• D)All of the above.

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Definitions:

Parol Evidence Rule

A legal principle in contract law that prevents parties from presenting extrinsic evidence of terms not included in the written contract.

Oral Evidence

Testimony or information presented in verbal form, as opposed to written or physical evidence, during legal proceedings.

Fraud

A deliberate deception practiced to secure unfair or unlawful gain, often involving financial transactions.

Guarantor

An individual or entity that agrees to be responsible for another’s debt or performance under a contract if the original party fails to meet their obligations.