what is inherent risksusceptibility of
What is Inherent risk
Susceptibility of an account balance or class of transactions to material misstatement either individually or when aggregated with misstatement in other classes or balances , irrespective of related internal controls.
Expected delivery within 24 Hours
walk-through tests - auditorbull walk-through tests -that is tracing one or more transactions by accounting system and observing application of
discuss about the materialityan item can be considered material if its omission would reasonably influence the decisions of an addressee of report a
what are the material items are carried outmaterial items would have an impact on audit tests carried out for illustration compliance based testing
determine the calculation of materialityfor exampleturnover 1 -15net assets 1 -2net profit 2 -6whatever numbers are selected they would be based on
what is inherent risksusceptibility of an account balance or class of transactions to material
at entity level - inherent risk integrity of management managements experience and knowledge over reliance on key customers unusual pressures on
account balance - inherent risk at account balance class of transaction level balances susceptible to misstatement history of errors complexity of
what is control riskthat material misstatement could take place and not be detected or prevented on a timely basis by accounting and internal control
state about the detection riskthis is the risk that auditors substantive procedures dont detect a material misstatement in an account balance or
1938647
Questions Asked
3,689
Active Tutors
1447896
Questions Answered
Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!
Provide a thorough, insightful comparison between the alternative plan and the preceptor's approach, analyzing key differences in clinical experience
A 43-year-old male presents to the clinic with malaise, fever, productive yellow-greenish cough, and mild right chest discomfort
HPI The patient is a 30 year old female who presents with neck pain. The pain has been persistent for the past week and is described as a dull ache.
Management of Shock Homework Case Study One Stage: A small animal practice with a team of five members: one veterinarian,
2-week-old Alyssa, presents for Well Child Care4-week-old male infant presents for well visit with parents reporting they noticed his left eye was caked dry
Provide feedback on their questions and plan for educating the client. Explain the social worker's role in the recommended intervention
Which components of patient-centered care did the healthcare providers do well in the video?