To Maximize Audit Efficiency, the Auditor Should Allocate Less Tolerable

question 101

True/False

To maximize audit efficiency, the auditor should allocate less tolerable misstatement to accounts that can be verified by using low-cost audit procedures, such as analytical procedures, than to accounts that are more costly to audit.

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Definitions:

Reassurance

The act of providing comfort or confidence to someone, often by easing their doubts or fears.

Avoidant-Fearful

A type of attachment characterized by a desire for closeness with others combined with a fear of getting hurt or rejected.

Avoidant-Fearful

A subtype of avoidant personality disorder characterized by a pervasive pattern of social inhibition, feelings of inadequacy, and hypersensitivity to negative evaluation.

Avoidant-Dismissing

A style of attachment characterized by a self-reliant attitude and a tendency to minimize the importance of close relationships.