Published on October 20, 2015
For more course tutorials visit www.acc490.com Resources: Assessing Materiality and Risk simulation on student website Complete the Assessing Materiality and Risk simulation Resources: Assessing Materiality and Risk simulation on student website Complete the Assessing Materiality and Risk simulation located on the student website. Prepare a 350-word response to following questions after completing the simulation: • Why do certain accounts have to be audited 100%? • Why is materiality allocated only to those accounts that are sampled? • Is any component of audit risk within the control of the auditor? Explain. • How are the three risks that make up audit risk inter-related? • Week 3 – DQ 1 • What are the two types of audit tests? What are some examples of each of these two types of tests? How will the auditor use the data gathered from these tests?