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
1928354
Questions Asked
3,689
Active Tutors
1455891
Questions Answered
Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!
The nurse is caring for a client with suspected neuroleptic malignant syndrome (NMS). Which of the following findings would support a diagnosis of NMS?
Problem: The nurse is talking with a client with chronic kidney disease about recommended dietary modifications.
Change the name to clair and the end year 2024 Carrie Vang Long and short term goals By the next annual review, Kelly will improve her expressive skills
The preceptor is teaching a graduate nurse about electroconvulsive therapy (ECT). The preceptor determines that no further teaching is indicated
How do advancements an artificial intelligence driven diagnostic tools, impact quality, accessibility, and ethical considerations of healthcare delivery
Provide an overview of how healthcare in the United States has evolved since the post-industrial period.
Case Scenario: "You are a school SLP with an 8-year-old nonverbal boy with autism in a special day class on your caseload.