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Using your knowledge of the relationships among acceptable audit risk, inherent risk, control risk, planned detection risk, performance materiality, and planned evidence, state the effect on planned evidence (increase or decrease) of changing each of the following factors, while the other factors remain unchanged. an increase in acceptable audit risk ________ an increase in inherent risk ________ a decrease in control risk ________ an increase in planned detection risk ________ an increase in performance materiality ________

Using your knowledge of the relationships among acceptable audit risk, inherent risk, control risk, planned detection risk, performance materiality, and planned evidence, state the effect on planned evidence (increase or decrease) of changing each of the following factors, while the other factors remain unchanged. an increase in acceptable audit risk ________ an increase in inherent risk ________ a decrease in control risk ________ an increase in planned detection risk ________ an increase in performance materiality ________

FINANCIAL ACCOUNTING
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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Using your knowledge of the relationships among acceptable audit risk, inherent risk, control risk, planned detection risk, performance materiality, and planned evidence, state the effect on planned evidence (increase or decrease) of changing each of the following factors, while the other factors remain unchanged.

  1. an increase in acceptable audit risk ________
  2. an increase in inherent risk ________
  3. a decrease in control risk ________
  4. an increase in planned detection risk ________
  5. an increase in performance materiality ________
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