When the Assessed Level of Inherent Risk for Material Misstatement

question 30

Multiple Choice

When the assessed level of inherent risk for material misstatement is not high,but the control risk is,the audit plan should call for:

• A)Gathering a relatively low level of substantive audit evidence.
• B)Gathering a moderately persuasive level of planned substantive evidence.
• C)Performing extensive tests of controls to reduce control risk to an acceptably low level.
• D)Gathering a highly persuasive level of substantive evidence.

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Definitions:

Training Programs

Structured educational and development activities aimed at improving individuals' skills and knowledge relevant to their jobs or personal development.

Career Success

The achievement of desired job-related outcomes or advancements over one's working life.

Outcome Measure

A calculation or recording of a result or effect that indicates the effectiveness of a particular process, activity, or intervention.

HR

The abbreviation for Human Resources, referring to the department or functions associated with managing an organization's employees.