Lucy Pelletier Was Training a Team of New Auditors and Delivered

question 30

Multiple Choice

Lucy Pelletier was training a team of new auditors and delivered some interesting rules of thumb about control risk and detection risk:
"The required level of confidence is a function of control risk when testing controls and detection risk when conducting substantive tests."
"When detection risk is determined to be low, an auditor will require a low level of confidence that the transactions and accounts are not materially misstated.
Which of the above two statements are true?

• A) (i) only
• B) (ii) only
• C) both (i) and (ii)
• D) neither (i) or (ii)

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Definitions:

Male Sex Workers

Men who provide sexual services to clients for payment. This work can vary widely in terms of context, legality, and social acceptance.

Adolescents

Individuals in the stage of development between childhood and adulthood, often considered to be between the ages of 13 and 19.

Solicitation

In terms of prostitution, a word, gesture, or action that implies an offer of sex for sale.

Pandering

involves procuring or providing a person for the purpose of prostitution or sexual exploitation.