Risk-Based Audit Approach In Conducting an Integrated Audit,discuss the Potential Effect of Management's

question 58

Essay

Risk-based audit approach
In conducting an integrated audit,discuss the potential effect of management's monitoring controls on the auditor's determination of the amount of direct testing of account balances that may be needed.

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Definitions:

Plausible

Seeming reasonable or probable; believable or credible.

Indirectly

Not directly, but by means of an intermediate step or through a secondary cause.

Hypothesis

A proposed explanation for a phenomenon, made as a starting point for further investigation, testing, or experimentation.

Informative

Providing useful or important information or details.