In addition to evaluating the frequency of deviation in test of controls, an auditor should also consider certain qualitative aspects of the deviation. The auditor most likely would give additional consideration to the implications of a deviation if it was:

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Answer 1

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Chapter 15, Problem 24.3MCQ

To determine

In addition to evaluating the frequency of deviation in test of controls, an auditor should also consider certain qualitative aspects of the deviation. The auditor most likely would give additional consideration to the implications of a deviation if it was:

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Which of the following is an incorrect statement? a. The amount of audit work should vary inversely with the likelihood of material misstatements existing in the accounting records. b. The better the organization’s control structure, the less likely it is that material misstatements will be present c. Complex or unusual transactions are more likely to be recorded in error than recurring or routine transactions are d. If misstatements are likely to occur in the recording process, the auditor should develop procedures to detect misstatements.

If the auditor plans to assess control risk at less than the maximum and rely on controls, and the nature, timing, and extent of further audit procedures are based on that lower assessment, the auditor musta. Obtain evidence that the controls selected for testing are designed effectively and operated effectively during the entire period of reliance.b. Assess control risk at less than the maximum for all relevant assertions.c. Perform only substantive procedures.d. Provide additional examples of responses to assessed fraud risks relating to fraudulent financial reporting.

The tolerable rate of deviation set by the auditor for tests of controls depends primarily on which of the following? a. The planned risk of assessing control risk too low. b. The dollar amount of substantive misstatements. c. The anticipated cause of the errors. d. The tolerable rate used in audits of other clients in the same industry.

Answer 2

Question

Chapter 15, Problem 24.3MCQ

To determine

In addition to evaluating the frequency of deviation in test of controls, an auditor should also consider certain qualitative aspects of the deviation. The auditor most likely would give additional consideration to the implications of a deviation if it was:

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Answer 3

Question

Chapter 15, Problem 24.3MCQ

To determine

In addition to evaluating the frequency of deviation in test of controls, an auditor should also consider certain qualitative aspects of the deviation. The auditor most likely would give additional consideration to the implications of a deviation if it was:

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Answer 4

Question

Chapter 15, Problem 24.3MCQ

To determine

In addition to evaluating the frequency of deviation in test of controls, an auditor should also consider certain qualitative aspects of the deviation. The auditor most likely would give additional consideration to the implications of a deviation if it was:

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Answer 5

Chapter 15, Problem 24.3MCQ

To determine

In addition to evaluating the frequency of deviation in test of controls, an auditor should also consider certain qualitative aspects of the deviation. The auditor most likely would give additional consideration to the implications of a deviation if it was:

Answer 6

Chapter 15, Problem 24.3MCQ

To determine

In addition to evaluating the frequency of deviation in test of controls, an auditor should also consider certain qualitative aspects of the deviation. The auditor most likely would give additional consideration to the implications of a deviation if it was:

Answer 7

Chapter 15, Problem 24.3MCQ

To determine

In addition to evaluating the frequency of deviation in test of controls, an auditor should also consider certain qualitative aspects of the deviation. The auditor most likely would give additional consideration to the implications of a deviation if it was:

Answer 8

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Answer 9

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Answer 11

Ch. 15 - Prob. 1RQ Ch. 15 - Prob. 2RQ Ch. 15 - Prob. 3RQ Ch. 15 - Prob. 4RQ Ch. 15 - Prob. 5RQ Ch. 15 - Prob. 6RQ Ch. 15 - Prob. 7RQ Ch. 15 - Prob. 8RQ Ch. 15 - Prob. 9RQ Ch. 15 - Prob. 10RQ

In addition to evaluating the frequency of deviation in test of controls, an auditor should also consider certain qualitative aspects of the deviation. The auditor most likely would give additional consideration to the implications of a deviation if it was:

Solution Summary: The author explains that an auditor should evaluate the frequency of deviation in test of controls, as well as certain qualitative aspects of the deviation.

In addition to evaluating the frequency of deviation in test of controls, an auditor should also consider certain qualitative aspects of the deviation. The auditor most likely would give additional consideration to the implications of a deviation if it was:

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