The Auditor Faces a Risk That the Audit Will Not

question 51

Multiple Choice

The auditor faces a risk that the audit will not detect material misstatements that occur in the accounting process.In regard to minimising this risk, the auditor primarily relies on:

• A)substantive tests.
• B)tests of controls.
• C)internal control.
• D)statistical analysis.

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Definitions:

Identical Twins

Siblings who are genetically identical, resulting from the splitting of a single fertilized egg.

Fraternal Twins

Twins who are born at the same time but developed from two separate eggs fertilized by separate sperm cells, resulting in them being genetically similar as siblings rather than identical.

Minnesota Multiphasic Personality Inventory

A comprehensive psychological assessment tool designed to assess a variety of personality traits and psychopathologies.

Personality Description

The characterization or detailing of an individual's distinctive characteristics or traits.