If Detection Risk Is Low,the Auditor Is More Willing to Take

question 42

True/False

If detection risk is low,the auditor is more willing to take a higher risk of the substantive audit procedures not detecting a material misstatement.

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Definitions:

Codicil

An addition or amendment made to a will, which may add to, modify, or revoke portions of the document.

Trusts

Are fiduciary relationships in which one party, known as a trustee, holds property for the benefit of another party, the beneficiary.

Functions

The roles or activities that are natural to or intended for an individual or thing.

Prevent

To stop something from happening or to hinder certain actions by taking proactive measures.