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Acct 400 Week 5 Auditing and Assurance Services forum




Question;Week 5: Substantive Procedures and the;Financial Statement Audit;Imagine that you are a new auditor;scheduled on a year-end audit engagement.;Your senior has instructed you to test the Accounts Receivable;account. The account is large and contains;many customer balances, so you have been instructed to use sampling techniques;for your testing.;Required;1 - Describe the audit risk model;explaining the relationships of tests of details of balances detection risk and;analytical procedures detection risk. 2 - What is the detection risk related to;your task of auditing Accounts Receivable?="msonormal">3 - Does the risk of incorrectly rejecting;the Accounts Receivable balance affect your audit risk when using the audit;risk model? What negative impact does;incorrect rejection have on the audit?="msonormal">


Paper#38195 | Written in 18-Jul-2015

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