QUESTION 9

Describe a scenario where an auditor would view a misstatement as Quantitatively Immaterial, but Qualitatively Material. (1 – 2 Sentences)  

4.1 Complete the table, which shows the properties between metals and non-metals. (5)   METAL NON-METAL [1] Dull Sonorous [2] Malleable [3] [4] Brittle Good conductors of heat Poor conductors of heat Good conductors of electricity [5]

Describe an argument that management may use to Rationalize financial statement fraud. (1 – 2 Sentences)

2.2 The columns in the periodic table are called groups. (1)

The auditor is responsible to test all internal controls at a client.

Which board sets audit standards relevant to audits of U.S. private companies.

  TOTAL: [10]

Higher quantitative materiality levels cause the auditor to perform more substantive procedures.

Describe the methods an auditor will use to assess Inherent Risk at a client. (1-2 Sentences)