Strayer University, Washington DC ACC 403 Quiz 4 Chp 9

•  Question 1
 
  The preliminary judgment about materiality and the amount of audit evidence accumulated are ________ related.
   
•  Question 2
 
  Auditors generally allocate the preliminary judgment about materiality to the:
   
•  Question 3
 
  If an auditor establishes a relatively high level for materiality, then the auditor will:
   
•  Question 4
 
  Auditors frequently refer to the terms audit assurance, overall assurance, and level of assurance to refer to ________.
   
•  Question 5
 
  Auditors typically rely on internal controls of their private company clients:
   
•  Question 6
 
  Why do auditors establish a preliminary judgment about materiality?
   
•  Question 7
 
  Inherent risk and control risk:
   
•  Question 8
 
  As the risk of material misstatement increases, detection risk should:
   
•  Question 9
 
  When management has an adequate level of integrity for the auditor to accept the engagement but cannot be regarded as completely honest in all dealings, auditors normally:
   
•  Question 10
 
  As the acceptable level of detection risk increases, an auditor may change the:
   
•  Question 11
 
  When the auditor is attempting to determine the extent to which external users rely on a client's financial statements, they may consider several factors except for:
   
•  Question 12
 
  When auditors allocate the preliminary judgment about materiality to account balances, the materiality allocated to any given account balance is referred to as:
   
•  Question 13
 
  If it is probable that the judgment of a reasonable person will be changed or influenced by the omission or misstatement of information, then that information is, by definition of FASB Statement No. 2:
   
•  Question 14
 
  When taken together, the concepts of risk and materiality in auditing:
   
•  Question 15
 
  Inherent risk is ________ related to detection risk and ________ related to the amount of audit evidence.