On the Basis of Audit Evidence Gathered and Evaluated,an Auditor

question 25

Multiple Choice

On the basis of audit evidence gathered and evaluated,an auditor decides to increase the assessed level of risk of material misstatement from that originally planned.To achieve an overall audit risk level that is substantially the same as the planned audit risk level,the auditor would

• A) Decrease amount of substantive testing.
• B) Decrease detection risk.
• C) Increase detection risk.
• D) Increase materiality levels.

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Definitions:

Set Times

Predetermined or scheduled times at which specific activities or events are intended to happen.

Ethnicity

A category of people who identify with each other based on common ancestral, social, cultural, or national experiences.

Cultural Heritage

The legacy of physical artifacts and intangible attributes of a group or society passed down from generation to generation, including customs, practices, places, objects, artistic expressions, and values.

Cultural Differences

Variations in the customs, beliefs, practices, and social behavior of different societies or communities.