Wgu d251 stuvia - Study guides, Class notes & Summaries

WGU - D251 Advanced Auditing Questions and Answers 100% Correct WGU - D251 Advanced Auditing Questions and Answers 100% Correct WGU - D251 Advanced Auditing Questions and Answers 100% CorrectPerformance Materiality is also known as _____________. - ANSWER-Tolerable Error Auditor uses Performance Materiality for ____________. - ANSWER-Determining significant accounts, locations, and audit procedures.

WGU D251 - Advanced Auditing Exam 2024 Questions and Answers 100% Correct! WGU D251 - Advanced Auditing Exam 2024 Questions and Answers 100% Correct! WGU D251 - Advanced Auditing Exam 2024 Questions and Answers 100% Correct! WGU D251 - Advanced Auditing Exam 2024 Questions and Answers 100% Correct! WGU D251 - Advanced Auditing Exam 2024 Questions and Answers 100% Correct! WGU D251 - Advanced Auditing Exam 2024 Questions and Answers 100% Correct! WGU D251 - Advanced Auditing Exam 2024 Questions a...

Performance Materiality is also known as _____________. - ANSWER-Tolerable Error Auditor uses Performance Materiality for ____________. - ANSWER-Determining significant accounts, locations, and audit procedures. Performance Materiality is what percent of Planning Materiality? - ANSWER-75% What happens is Performance Materiality is set too high? - ANSWER-Auditor might not perform sufficient procedures to detect material misstatements. What happens if Performance Materiality is set too...

WGU - D251 Advanced Auditing Questions and Answers 100% CorrectWGU - D251 Advanced Auditing Questions and Answers 100% CorrectWGU - D251 Advanced Auditing Questions and Answers 100% Correct Performance Materiality is also known as _____________. - ANSWER-Tolerable Error Auditor uses Performance Materiality for ____________. - ANSWER-Determining significant accounts, locations, and audit procedures. Performance Materiality is what percent of Planning Materiality? - ANSWER-75% What happe...

WGU D251 - Advanced Auditing Exam 2024 Questions and Answers 100% CorrectWGU D251 - Advanced Auditing Exam 2024 Questions and Answers 100% CorrectWGU D251 - Advanced Auditing Exam 2024 Questions and Answers 100% CorrectWGU D251 - Advanced Auditing Exam 2024 Questions and Answers 100% Correctmisstatement - ANSWER-An error, either intentional or unintentional, that exists in a transaction or financial statement account balance. alternative procedures - ANSWER-Procedures used to obtain evidence ...

WGU D251 - Advanced Auditing Exam 2024 Questions and Answers 100% Correct WGU D251 - Advanced Auditing Exam 2024 Questions and Answers 100% Correct WGU D251 - Advanced Auditing Exam 2024 Questions and Answers 100% Correct WGU D251 - Advanced Auditing Exam 2024 Questions and Answers 100% Correct Which phrase or term regarding materiality is used by the Supreme Court of the United States, and is NOT found in FASB Concepts Statements No. 2? - ANSWER-Significantly altered the total mix of inform...

Which phrase or term regarding materiality is used by the Supreme Court of the United States, and is NOT found in FASB Concepts Statements No. 2? - ANSWER-Significantly altered the total mix of information available. Which materiality does an auditor use when determining whether the financial statements overall are materially correct? - ANSWER-Planning Materiality. Planning= Overall What describes the misstatements identified throughout the audit that will be considered at the end of th...

Which phrase or term regarding materiality is used by the Supreme Court of the United States and is not found in FASB Concepts Statements No. 2 in light of surrounding circumstances significantly altered the total mix of information available magnitude of an omission or misstatement probable that the judgment of a reasonable person - ANSWERSsignificantly altered the total mix of information available Which materiality does an auditor use when determining whether the financial stat...

misstatement - ANSWERSAn error, either intentional or unintentional, that exists in a transaction or financial statement account balance. alternative procedures - ANSWERSProcedures used to obtain evidence about the existence and valuation of accounts receivable when a positive confirmation is not returned, including examining cash collected after the confirmation date and vouching unpaid invoices to customers' orders, sales orders, shipping documents, and sales invoices. Altman Z-scores -...

The auditor's judgment concerning the overall fairness of the presentation of financial position, results of operations, and cash flows is applied within the framework of: A: quality control. B: generally accepted auditing standards, which include the concept of materiality. C: the auditor's evaluation of the audited company's internal control. D: the applicable financial reporting framework (i.e., GAAP in the United States). - ANSWERSD: the applicable financial reporting framewor...