On the Basis of Audit Evidence Gathered,an Auditor Decides to Increase

question 23

Essay

On the basis of audit evidence gathered,an auditor decides to increase the assessed level of control risk 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 need to adjust detection risk.a.Explain the audit evidence gathered that led the auditor to the conclusion that control risk must be increased and why the auditor evaluated the evidence in the manner described in the problem.b.Assume that control risk went from .50 to .70,inherent risk is 1.0,and audit risk is .05.Explain the impact of the decision to adjust control risk on the calculation of detection risk.

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Definitions:

Motivators

Factors that influence an individual's level of motivation, potentially enhancing their willingness to engage in particular behaviors or pursue certain goals.

Dissatisfiers

Factors that, when present, can cause dissatisfaction but whose absence doesn't necessarily create satisfaction, often applied in job and service satisfaction research.

Keeping The Staff Satisfied

A management goal focused on ensuring that employees remain happy, motivated, and productive in their roles.

Challenges

Difficulties or obstacles that need to be overcome, often encountered in various contexts like personal growth, business environment, or societal issues.