It is about the decision made about material misstatement before consideration of Internal Controls. The true or false status of the a decision made by auditor on detection risk, without considering the status of Internal Controls

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Chapter 7, Problem 5CYBK

To determine

Introduction: It is about the decision made about material misstatement before consideration of Internal Controls.

The true or false status of the a decision made by auditor on detection risk, without considering the status of Internal Controls

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The risk of material misstatement is O inherent risk * detection risk. O audit risk * inherent risk. O inherent risk * control risk. O control risk * detection risk.

The combination of inherent risk and control risk refers to: * Detection risk Audit risk Risk of material misstatement Engagement risk None of the above

Which of the following is correct about control risk? Select one: a. None of the others b. The risk that a material misstatement could occur in a relevant assertion and not be prevented or detected on a timely basis by the entity’s internal control. c. It is an alternative to substantive testing d. It is the same as inherent risk.

Answer 2

Question

Chapter 7, Problem 5CYBK

To determine

Introduction: It is about the decision made about material misstatement before consideration of Internal Controls.

The true or false status of the a decision made by auditor on detection risk, without considering the status of Internal Controls

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Answer 3

Question

Chapter 7, Problem 5CYBK

To determine

Introduction: It is about the decision made about material misstatement before consideration of Internal Controls.

The true or false status of the a decision made by auditor on detection risk, without considering the status of Internal Controls

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Answer 4

Question

Chapter 7, Problem 5CYBK

To determine

Introduction: It is about the decision made about material misstatement before consideration of Internal Controls.

The true or false status of the a decision made by auditor on detection risk, without considering the status of Internal Controls

Expert Solution & Answer

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Answer 5

Chapter 7, Problem 5CYBK

To determine

Introduction: It is about the decision made about material misstatement before consideration of Internal Controls.

The true or false status of the a decision made by auditor on detection risk, without considering the status of Internal Controls

Answer 6

Chapter 7, Problem 5CYBK

To determine

Introduction: It is about the decision made about material misstatement before consideration of Internal Controls.

The true or false status of the a decision made by auditor on detection risk, without considering the status of Internal Controls

Answer 7

Chapter 7, Problem 5CYBK

To determine

Introduction: It is about the decision made about material misstatement before consideration of Internal Controls.

The true or false status of the a decision made by auditor on detection risk, without considering the status of Internal Controls

Answer 8

Expert Solution & Answer

Answer 9

Expert Solution & Answer

Answer 10

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Answer 11

Ch. 7 - Prob. 1CYBK Ch. 7 - Prob. 2CYBK Ch. 7 - Prob. 3CYBK Ch. 7 - Prob. 4CYBK Ch. 7 - Prob. 5CYBK Ch. 7 - Prob. 6CYBK Ch. 7 - Prob. 7CYBK Ch. 7 - Prob. 8CYBK Ch. 7 - Prob. 9CYBK Ch. 7 - Prob. 10CYBK

It is about the decision made about material misstatement before consideration of Internal Controls. The true or false status of the a decision made by auditor on detection risk, without considering the status of Internal Controls

Solution Summary: The author explains detection risk is the doubtfulness about the decision taken by auditor with respect to a class of transactions, ledgers or debtors / creditors balances, without considering the Internal Controls.

Introduction: It is about the decision made about material misstatement before consideration of Internal Controls.

The true or false status of the a decision made by auditor on detection risk, without considering the status of Internal Controls

Want to see the full answer?

Chapter 7 Solutions

It is about the decision made about material misstatement before consideration of Internal Controls. The true or false status of the a decision made by auditor on detection risk, without considering the status of Internal Controls

Solution Summary: The author explains detection risk is the doubtfulness about the decision taken by auditor with respect to a class of transactions, ledgers or debtors / creditors balances, without considering the Internal Controls.

Introduction: It is about the decision made about material misstatement before consideration of Internal Controls. The true or false status of the a decision made by auditor on detection risk, without considering the status of Internal Controls

Want to see the full answer?

Chapter 7 Solutions

Introduction: It is about the decision made about material misstatement before consideration of Internal Controls.

The true or false status of the a decision made by auditor on detection risk, without considering the status of Internal Controls