A. Risk of over reliance
B. Risk of incorrect rejection
C. Risk of incorrect acceptance
D. Both A and C
Related Mcqs:
- Audit risk is composed of 3 factors. Which of the following is NOT one of those factors??
- Which of the following describes sampling risk??
- In an audit of financial statements, substantive tests are audit procedures that __________??
- Analytical procedures issued in the planning stage of an audit, generally?
- Which of the following best describes the primary purpose of audit programme preparation??
- The quantity of audit working papers complied on engagement would most be affected by__________??
- _______________refers to the extent to which fixed-income securities (debt and preferred stock) are used in a firm’s capital structure??
- Which one of the following terms refers to the risk arises for bond owners from fluctuating interest rates??
- For what minimum period should audit working papers be retained by audit firm??
- ______the audit risks_______the materiality and_________the audit effort.?
