An Auditor Would Place Most Reliance on the Results of Analytical

question 23

Multiple Choice

An auditor would place most reliance on the results of analytical procedures when there is:

• A)material balance, low inherent risk, low control risk.
• B)immaterial balance, high inherent risk, high control risk.
• C)material balance, low inherent risk, high control risk.
• D)immaterial balance, low inherent risk, low control risk.

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Definitions:

Situational

Relating to or dependent upon a specific set of circumstances or context.

Ethical Frameworks

Structured sets of guidelines designed to help individuals and organizations in making morally sound decisions.

Decision Making

The process of decision-making where one selects an action from a range of choices.

Strong

Having great physical power, strength, mental fortitude, or robust structural integrity.