As the Acceptable Level of Detection Risk Decreases, an Auditor

question 23

Multiple Choice

As the acceptable level of detection risk decreases, an auditor may change the:

• A) timing of substantive tests by performing them at an interim date rather than at year-end.
• B) nature of substantive tests from less effective to more effective procedures.
• C) timing of tests of controls by performing them at several dates rather than at one time.
• D) assessed level of inherent risk to a higher amount.

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Definitions:

Part-Time Talent

Refers to individuals who work on a part-time basis, often bringing specialized skills to a role or project for a limited period.

Job Sharing

An employment arrangement where two or more people are hired to share the responsibilities of one full-time position, often leading to improved work-life balance.

Full-Time Job

Employment in which an individual works a minimum number of hours defined by their employer, usually equating to the majority of the workweek.

Predetermined Hours

Set hours or a schedule established in advance, typically relating to work or tasks that need to be completed within those times.