The Risk of Incorrect Acceptance Relates to The

question 47

Multiple Choice

The risk of incorrect acceptance relates to the:

• A)Effectiveness of the audit.
• B)Efficiency of the audit.
• C)Preliminary estimate of materiality.
• D)Allowable risk of tolerable misstatement.

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Definitions:

Conversation Partner

An individual engaged in dialog or communication with another, contributing to the exchange of ideas, thoughts, or feelings through verbal or non-verbal means.

Concise

Expressing much in few words, being brief and to the point.

Disconfirming Response

Statement that causes another person to value himself or herself less.

Tangential Response

A reply in conversation that deviates from the main topic or question, often indirectly addressing the subject.