In Planning the Audit,the Auditor Makes Decisions About the Size

question 67

Multiple Choice

In planning the audit,the auditor makes decisions about the size of misstatements that will be considered material.These decisions allow the auditor to

• A)determine the nature,timing,and extent of risk assessment procedures
• B)identify and assess the risk of misstatement
• C)determine the nature,timing,and extent of internal control procedures
• D)establish an amount below which misstatements will always be evaluated as immaterial
• E)A and D

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Definitions:

La Belle Indifference

A term used in psychology to describe a condition where a person is inappropriately indifferent to their physical symptoms or disability.

Conversion Disorder

A disorder classified in the group of somatic symptom and related disorders in DSM-5, characterized by motor symptoms or disturbances in sensory functioning that appear to be a result of a neurological problem, but for which no physical cause can be found.

Dissociative Identity Disorder

A psychiatric disorder characterized by the presence of two or more distinct personality states within the same individual, often as a result of severe trauma.

SSRIs

Selective Serotonin Reuptake Inhibitors, a class of drugs often prescribed for depression and anxiety disorders, which work by increasing serotonin levels in the brain.