The acceptable audit risk for the financial statements overall tends to be low and is set by the auditor at the beginning of the audit. How low audit risk is set is impacted by which of the following factors? (Several choices may be correct.) OG. Whether the entity has a strong tone at the top OC. The risk the client may no longer continue to be a going concern OB. The number of users relying on the financial statements O E. Past issues with management integrity A. The attitude of the organization toward controls OF. Expansion of the client into new markets OD. Changes to the industry in which the client operates
The acceptable audit risk for the financial statements overall tends to be low and is set by the auditor at the beginning of the audit. How low audit risk is set is impacted by which of the following factors? (Several choices may be correct.) OG. Whether the entity has a strong tone at the top OC. The risk the client may no longer continue to be a going concern OB. The number of users relying on the financial statements O E. Past issues with management integrity A. The attitude of the organization toward controls OF. Expansion of the client into new markets OD. Changes to the industry in which the client operates
Auditing: A Risk Based-Approach to Conducting a Quality Audit
10th Edition
ISBN:9781305080577
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter14: Activities Required In Completing A Quality Audit
Section: Chapter Questions
Problem 57RSCQ
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Recommended textbooks for you
Auditing: A Risk Based-Approach to Conducting a Q…
Accounting
ISBN:
9781305080577
Author:
Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:
South-Western College Pub
Auditing: A Risk Based-Approach (MindTap Course L…
Accounting
ISBN:
9781337619455
Author:
Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:
Cengage Learning
Auditing: A Risk Based-Approach to Conducting a Q…
Accounting
ISBN:
9781305080577
Author:
Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:
South-Western College Pub
Auditing: A Risk Based-Approach (MindTap Course L…
Accounting
ISBN:
9781337619455
Author:
Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:
Cengage Learning