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Below are four situations that involve the audit risk model as it is used for planning audit ...

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Below are four situations that involve the audit risk model as it is used for planning audit ...

Below are four situations that involve the audit risk model as it is used for planning audit evidence requirements in the audit of inventory. For each situation, calculate planned detection risk.

SITUATION
    1    2    3    4
Audit risk    1%    10%    10%    5%
Inherent risk    100%    100%    50%    20%
Control risk    100%    100%    40%    30%
Detection risk    ________    ________    ________    ________

Textbook

Auditing: The Art and Science of Assurance Engagements, Canadian Edition

Edition: 12^th

Authors: Arens, Elder, Beasley, Splettstoesser

Read 62 times

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charleshardt

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More solutions for this book are available here

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npeelman Author

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5 years ago

Thanks man

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