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Category > Accounting Posted 12 May 2017 My Price 15.00

ACC 403 Week 5 Discussion

"Minimizing Audit Risk" Please respond to the following:

According to the text, auditors have to make judgments concerning materiality on every audit. Since the auditing standards give no formal guidance for how to determine materiality, auditors must rely on their own experience. Determine at least three (3) qualitative factors that affect the auditor's judgment. Provide a rationale for your response.

 

 

According to the text, auditors rely on the audit risk formula to determine the types and amount of audit evidence to collect in order to keep the overall audit risk of engagements to a minimum or below defined tolerable limits. Suggest an alternative to the audit risk equation in order to mitigate audit risk. Support your rationale with examples of the successful use of the alternative strategy.

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Math Expert
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Status NEW Posted 12 May 2017 07:05 PM My Price 15.00

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file 1494621874-ACC403 Week 5 Discussion.docx preview (677 words )
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