Principles Of Auditing & Other Assurance Services
Principles Of Auditing & Other Assurance Services
21st Edition
ISBN: 9781259916984
Author: WHITTINGTON, Ray, Pany, Kurt
Publisher: Mcgraw-hill Education,
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Chapter 11, Problem 2RQ
To determine

Explain the reason for significant audit risk while auditing the revenue and receivables.

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Consider the concepts of sufficient and appropriate audit evidence. Assess how audit risk relates to audit evidence. How do auditors audit accounting estimates and other subjective information? What are analytical procedures, and why are they a useful audit tool? Explain the importance of audit documentation.
What is an example of audit procedure when performing an accounts payable risk assessment for acceptable audit risk, control risk, and inherent risk.
Provide the key factor auditors will have to review when deciding on the inherent risk within the accounting system.

Chapter 11 Solutions

Principles Of Auditing & Other Assurance Services

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