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
1940884
Questions Asked
3,689
Active Tutors
1421292
Questions Answered
Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!
A child with a Wilms tumor has had surgery to remove a kidney and has received chemotherapy. The nurse should include which instructions at discharge?
Question: Which of the following presents a risk that should involve direct oversight from the DNS?
If deficiencies are cited during survey, it becomes the responsibility of the nursing facility staff to do which of the following?
Because you are certifying or hoping to certify in a content area that includes the Science of Teaching Reading standards, you must provide evidence
Your HCO has several clinical services, and a record of improvement on quality, patient satisfaction, and associate satisfaction in most of them.
A child has a desquamative rash of the hands and feet. Which additional finding should the nurse expect to observe with this rash?
Question: Locate and explore a framework related to public health (this week's PowerPoint has some good examples)