While Performing a Substantive Test of Details During an Audit

question 55

Multiple Choice

While performing a substantive test of details during an audit, the auditor determined that the sample results supported the conclusion that the recorded account balance was materially misstated.Which of the following is the least likely auditor reaction to this discovery?

• A)Perform expanded audit tests in the relevant areas.
• B)Increase detection risk in the relevant areas.
• C)Increase the sample size.
• D)Take no action until tests of other audit areas are completed.

Distinguish between different types of social capital: bonds, bridges, and linkages.

Identify the dimensions of social capital and their implications on networking.

Recognize the advantages and utility of diverse skill sets within networks.

Comprehend strategies for effective network building and maintenance.

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Definitions:

Divisional Structure

An organizational format where operations are grouped based on distinct products or services, markets, or geographic areas, facilitating specialization and flexibility.

Environmental Changes

Alterations in the natural or built environment, often due to human activities or natural processes.

Duplication of Resources

The unnecessary repetition of tools, equipment, or human resources within an organization, leading to inefficiency.

Social Network Analysis

A methodological approach used to analyze social structures through the use of networks and graph theory, identifying how individuals and groups interact.