An Auditor Who Audits a Business Cycle That Has Low

question 2

Multiple Choice

An auditor who audits a business cycle that has low inherent risk should:

• A) increase the amount of audit evidence gathered.
• B) assign more experienced staff to that area.
• C) increase the tolerable misstatement for the area.
• D) expand planning procedures.

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Definitions:

Online Search

The process of using the internet to locate information, resources, or data through search engines or specific websites.

Gathering Information

The collection of data, facts, and insights from various sources to support decision-making, analysis, or research.

Primary Research

Original research conducted first-hand to collect new data or information directly related to a specific question or issue.

Secondary Research

The practice of gathering existing data from previously published sources as opposed to collecting new data.