As the acceptable level of detection risk increases, an auditor may:Oa. Lower the assessed level of inherent risk.O b. Eliminate the assessed level of control risk from consideration as a planning factor.O c. Change the planned timing of substantive tests from year-end to interim.Od. Increase the risk of material misstatement.

Correct option is option (c). Change the planned timing of substantive tests from year-end to…

s the acceptable level of detection risk in a. Lower the assessed level of inherent ris b. Eliminate the assessed level of control Oc. Change the planned timing of substanti Od. Increase the risk of material misstatem

s the acceptable level of detection risk in a. Lower the assessed level of inherent ris b. Eliminate the assessed level of control Oc. Change the planned timing of substanti Od. Increase the risk of material misstatem

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

As the acceptable level of detection risk increases, an auditor may:
Oa. Lower the assessed level of inherent risk.
O b. Eliminate the assessed level of control risk from consideration as a planning factor.
O c. Change the planned timing of substantive tests from year-end to interim.
Od. Increase the risk of material misstatement.

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