Auditors Frequently Refer to the Terms Audit Assurance, Overall Assurance

question 97

Multiple Choice

Auditors frequently refer to the terms audit assurance, overall assurance, and level of assurance instead of

• A) detection risk.
• B) audit report risk.
• C) acceptable audit risk.
• D) inherent risk.

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Definitions:

Learning

The process of acquiring knowledge or skills through study, experience, or teaching, which can result in a change in behavior or understanding.

Reactiveness

The trait of responding to situations or stimuli rather than initiating or controlling them.

Activeness

A quality of being active, showing initiative, or willingly engaging in activities.

Flexibility

Ability to tolerate a mismatch (discorrespondence) between needs and rewards.