Each of the following might, by itself, form a valid basis for an auditor to decide to omit a procedure except for the
a. Difficulty and cost involved in testing a particular item
b. Assessment of the risks of material misstatement at a low-level
c. Inherent risk involved
d. Relationship between the cost of obtaining evidence and its usefulness
Ans: a. Difficulty and cost involved in testing a particular item
Business
You might also like to view...
What is the expected, constant growth rate of dividends for a stock with a current price of $100, expected dividend payment of $10 per share, and a required return of 16 percent?
A) 6.25 percent B) 6.00 percent C) 8.00 percent D) 10.00 percent
Business
Which financial statement measures the financial performance of an organization over a specified time period, usually a year?
A. Statement of cash flows B. Income statement C. Balance sheet D. Financial ledger
Business