Question;Course Auditing I Test Quiz 4 Instructions This quiz consists of 15 multiple choice questions and covers the material in Chapter 9. Be sure you are in the correct Chapter when you take the quiz.? Question 1 The preliminary judgment about materiality and the amount of audit evidence accumulated are ________ related.? Question 2 Auditors generally allocate the preliminary judgment about materiality to the:? Question 3 If an auditor establishes a relatively high level for materiality, then the auditor will:? Question 4 Auditors frequently refer to the terms audit assurance, overall assurance, and level of assurance to refer to ________.? Question 5 Auditors typically rely on internal controls of their private company clients:? Question 6 Why do auditors establish a preliminary judgment about materiality?? Question 7 Inherent risk and control risk:? Question 8 As the risk of material misstatement increases, detection risk should:? Question 9 When management has an adequate level of integrity for the auditor to accept the engagement but cannot be regarded as completely honest in all dealings, auditors normally:? Question 10 As the acceptable level of detection risk increases, an auditor may change the:? Question 11 When the auditor is attempting to determine the extent to which external users rely on a client's financial statements, they may consider several factors except for:? Question 12 When auditors allocate the preliminary judgment about materiality to account balances, the materiality allocated to any given account balance is referred to as:? Question 13 If it is probable that the judgment of a reasonable person will be changed or influenced by the omission or misstatement of information, then that information is, by definition of FASB Statement No. 2:? Question 14 When taken together, the concepts of risk and materiality in auditing:? Question 15 Inherent risk is ________ related to detection risk and ________ related to the amount of audit evidence.
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