When applying analytical procedures, an auditor could develop independent estimate of an account balance to compare it to­___________?

Related Mcqs:

Window dressing implies_______________?

A. Curtailment of expenses B. Checking of Wastages C. Under valuation of assets D. Over Valuation of assets...

What would most appropriately describe the risk of incorrect rejection in terms of substantive testing?

A. The auditor concludes balance is materially correct when in actual fact it is not B. The auditor concludes that the balance is materially misstated when in actual fact it not C. The auditor has rejected an item for sample which was material D. None of the above...

What would most effectively describe the risk of incorrect acceptance in terms of substantive audit testing?

A. The auditor has ascertained that the balance is materially correct when in actual fact it is not B. The auditor concludes the balance is materially misstated when in actual fact is not C. The auditor has rejected an item from sample which was not supported by documentary evidence D. He applies random sampling on … What would most effectively describe the risk of incorrect acceptance in terms of substantive audit testing?Read More...

If the book value of an asset stands at________per cent of the original cost, a company need not provide depreciation on it.

A. two B. fifteen C. five D. ten...

Which of the following is true about written representations?

A. They are the best source of audit evidence B. They should be used only when there is a lack of other substantive audit evidence C. They should be used only when there is other substantive audit evidence to complement it D. Shareholders receive a copy of all material written representations...