Select the necessary words from the list of possibilities to complete the follow

Question

Select the necessary words from the list of possibilities to complete the following statements. ( Choices of all questions are same)

| Chapter 6 Homework (13 . ..Seach https://new.unnoct.mheducaliur trnl Chapter 6 Homework Help Save & Exit Submit Check my work Select the necessary words from the list of possibilities to complete the following statement Statements Answer 0.25 points 1 The of SEC registrants selects the companys 1dit firm. The udtors must assess the nsk of matenal misstatement of financial statements due to the to types of fraud, fraudulent financial reporting and 2 audit committee eBook Print References audit plan 3 Audit rsk st the eccount balance level consists of three components. (1) ·(2) control risk snd (3) detection nsk 4. The 5. Audil pocdures lhal are locused n the eleclivenessof irilerial nrol are calld 6. Tests of balarices and transautions designed to delect malerial risstalemenls are called povides an overview which includes he nalu, irriing and exlenl of procedures obpeorned i aud cutoff Inherent risk Performing cenain udit procedures al an irlerim dale, rather than at lhe balance sheet date, results in additional be controlled by the auditors hal must The aulhenlicity arnd aucuracy of an account receivable ray be lested by witi the debl, r by vouchingenries iri the account to supporting documents 9. Assertions are 1D The term that are set forth in the finaricial statermenits. reters to the process ot detemining that transactione are refiected in the proper accounng period Prey 22 of 27 Next 3:51 PM 9/29/2018

Explanation / Answer

1. Audit Committee (Sarbanes Oxley Act 2002 makes it mandatory for audit committees to be directly responsible for the oversight of Independent auditor.)

2. Misappropriation of assets.

3. Inherent Risk

4. Audit Plan

5. Tests of controls

6. Substantive Procedures Tests.

7. Risk

8. Confirmation

9. Representation of management

10. Cutoff

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