Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. elements a. engagement risk and acceptable

Elements a. Engagement risk and Acceptable Audit Risk Inverse Direct No Relationship b. Assessed Inherent Risk and Planned Detection Risk Inverse Direct No Relationship c. Materiality and Amount of...

60.1K

Verified Solution

Question

Finance

Elements
a.Engagement risk and Acceptable Audit RiskInverseDirectNoRelationship
b.Assessed Inherent Risk and Planned Detection RiskInverseDirectNoRelationship
c.Materiality and Amount of Substantive Evidence NeededInverseDirectNoRelationship
d.Assessed Inherent Risk and Assessed Control RiskInverseDirectNoRelationship
e.Acceptable Audit Risk and Assessed Control RiskInverseDirectNoRelationship
f. Amountof Substantive Evidence collected and Achieved Detection RiskInverseDirectNoRelationship
g. ActualInherent Risk and Actual Control RiskInverseDirectNoRelationship
h.Achieved Detection Risk and Achieved Audit RiskInverseDirectNoRelationship

Answer & Explanation Solved by verified expert
3.7 Ratings (464 Votes)
Particulars Relation Reason 1 Engagement risk VS Acceptable Audit Risk Inverse 1Engagement risk means risk associated with the audit engagement 2 Acceptable audit risk means risk of auditor giving unqualified opinion even there is misstatements 3When the engagement risk is more the auditor may not give unqualifed opinion due to misstatements 2 Assessed inherent    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students