Explain audit risk, inherent risk, control risk, and the risk that analytical procedures that might fail to detect a material misstatement.

Question

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Answer 1

Question

Chapter 9A, Problem 10QRA

a.

To determine

Explain audit risk, inherent risk, control risk, and the risk that analytical procedures that might fail to detect a material misstatement.

b.

To determine

Calculate the maximum allowable risk of incorrect acceptance for the substantive test of details for Company D.

c.

To determine

Calculate the detection risk for Company D.

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Answer 2

Question

Chapter 9A, Problem 10QRA

a.

To determine

Explain audit risk, inherent risk, control risk, and the risk that analytical procedures that might fail to detect a material misstatement.

b.

To determine

Calculate the maximum allowable risk of incorrect acceptance for the substantive test of details for Company D.

c.

To determine

Calculate the detection risk for Company D.

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See solution

Answer 3

Question

Chapter 9A, Problem 10QRA

a.

To determine

Explain audit risk, inherent risk, control risk, and the risk that analytical procedures that might fail to detect a material misstatement.

b.

To determine

Calculate the maximum allowable risk of incorrect acceptance for the substantive test of details for Company D.

c.

To determine

Calculate the detection risk for Company D.

Expert Solution & Answer

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Answer 4

Question

Chapter 9A, Problem 10QRA

a.

To determine

Explain audit risk, inherent risk, control risk, and the risk that analytical procedures that might fail to detect a material misstatement.

b.

To determine

Calculate the maximum allowable risk of incorrect acceptance for the substantive test of details for Company D.

c.

To determine

Calculate the detection risk for Company D.

Expert Solution & Answer

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Answer 5

Chapter 9A, Problem 10QRA

a.

To determine

Explain audit risk, inherent risk, control risk, and the risk that analytical procedures that might fail to detect a material misstatement.

b.

To determine

Calculate the maximum allowable risk of incorrect acceptance for the substantive test of details for Company D.

c.

To determine

Calculate the detection risk for Company D.

Answer 6

Chapter 9A, Problem 10QRA

a.

To determine

Explain audit risk, inherent risk, control risk, and the risk that analytical procedures that might fail to detect a material misstatement.

Answer 7

Chapter 9A, Problem 10QRA

a.

To determine

Explain audit risk, inherent risk, control risk, and the risk that analytical procedures that might fail to detect a material misstatement.

Answer 8

b.

To determine

Calculate the maximum allowable risk of incorrect acceptance for the substantive test of details for Company D.

Answer 9

b.

To determine

Calculate the maximum allowable risk of incorrect acceptance for the substantive test of details for Company D.

Answer 10

c.

To determine

Calculate the detection risk for Company D.

Answer 11

c.

To determine

Calculate the detection risk for Company D.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 9A - Prob. 1RQ Ch. 9A - Prob. 2RQ Ch. 9A - Prob. 3RQ Ch. 9A - Prob. 4RQ Ch. 9A - Prob. 5RQ Ch. 9A - Prob. 6RQ Ch. 9A - Prob. 7RQ Ch. 9A - Prob. 8RQ Ch. 9A - Prob. 9RQ Ch. 9A - Prob. 10QRA

Explain audit risk, inherent risk, control risk, and the risk that analytical procedures that might fail to detect a material misstatement.

Explain audit risk, inherent risk, control risk, and the risk that analytical procedures that might fail to detect a material misstatement.

Calculate the maximum allowable risk of incorrect acceptance for the substantive test of details for Company D.

Calculate the detection risk for Company D.

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Chapter 9A Solutions