What will be the result of auditor assessing the inherent and control risk at high level during the planning stage but reducing the assessment of control risk during the testing of client’s internal controls.

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Answer 1

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Chapter 12, Problem 19.1MCQ

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What will be the result of auditor assessing the inherent and control risk at high level during the planning stage but reducing the assessment of control risk during the testing of client’s internal controls.

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On the basis of audit evidence gathered and evaluated, an auditor decides to decrease the level of detection risk from that originally planned. Assuming the same planned audit risk level, the change in the planned detection risk most likely resulted from a[n) A. Increase in the assessed control risk B.Increase in materiality levels. C. Decrease in the assessed inherent risk D.Decrease in the assessed citrol risk.

Based on evidence gathered and evaluated, an auditor decides to increase the assessedlevel of control risk from that originally planned. To achieve an overall audit risklevel that is substantially the same as the planned audit risk level, the auditor could(1) decrease detection risk. (3) decrease substantive testing.(2) increase materiality levels. (4) increase inherent risk.

When an audior increases the assessed level of control risk because certain control activities were determined to be ineffective, the auditor would most likely increase the: A. extent of tests of control B. level of detection risk C. extent of tests of detail D. Level of inherent risk

Answer 2

Question

Chapter 12, Problem 19.1MCQ

To determine

What will be the result of auditor assessing the inherent and control risk at high level during the planning stage but reducing the assessment of control risk during the testing of client’s internal controls.

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Answer 3

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Chapter 12, Problem 19.1MCQ

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What will be the result of auditor assessing the inherent and control risk at high level during the planning stage but reducing the assessment of control risk during the testing of client’s internal controls.

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Answer 4

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Chapter 12, Problem 19.1MCQ

To determine

What will be the result of auditor assessing the inherent and control risk at high level during the planning stage but reducing the assessment of control risk during the testing of client’s internal controls.

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Answer 5

Chapter 12, Problem 19.1MCQ

To determine

What will be the result of auditor assessing the inherent and control risk at high level during the planning stage but reducing the assessment of control risk during the testing of client’s internal controls.

Answer 6

Chapter 12, Problem 19.1MCQ

To determine

What will be the result of auditor assessing the inherent and control risk at high level during the planning stage but reducing the assessment of control risk during the testing of client’s internal controls.

Answer 7

Chapter 12, Problem 19.1MCQ

To determine

What will be the result of auditor assessing the inherent and control risk at high level during the planning stage but reducing the assessment of control risk during the testing of client’s internal controls.

Answer 8

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Answer 9

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Answer 11

Ch. 12 - Prob. 1RQ Ch. 12 - Prob. 2RQ Ch. 12 - Prob. 3RQ Ch. 12 - Describe how the nature of evidence used to...Ch. 12 - Prob. 5RQ Ch. 12 - Prob. 6RQ Ch. 12 - Prob. 7RQ Ch. 12 - Prob. 8RQ Ch. 12 - Prob. 9RQ Ch. 12 - Prob. 10RQ

What will be the result of auditor assessing the inherent and control risk at high level during the planning stage but reducing the assessment of control risk during the testing of client’s internal controls.

Solution Summary: The author explains that auditors assess the inherent and control risk at high levels during the planning stage but reduce the assessment of control risks during testing of client’s internal controls.

What will be the result of auditor assessing the inherent and control risk at high level during the planning stage but reducing the assessment of control risk during the testing of client’s internal controls.

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Chapter 12 Solutions