Question

Statements Answer 1. The term relates to the quantity of evidence that the auditors should obtain. The amount of evidence that is considered sufficient varies with the reliability of the evidence. The risk of material misstatement is composed of two risks that the auditor assesses, those risks are inherent risk and risk. 4. Tests of controls and are referred to as "further audit procedures." The audit approach of evaluating financial statement information by a study of relationships among financial and nonfinancial data is A is a type of documentary evidence transmitted directly to the auditors by a third party (e.g., a customer or a vender). In relying upon the work of a specialist, the auditors must ascertain the specialist and reputation of the A letter signed by officers of the client company at the auditors' request which sets forth certain assertions about the company's financial position and operations is known as a Without regard to the effect of controls, have a reasonable possibility of containing a misstatement that could cause the financial statements to be materially misstated. 10. The is a schedule listing the balances of accounts in the client's general ledger. Separate __ are used to combine similar general ledger accounts into the total that appears on the 11. working trial balance.

Answer 1

1.	Sufficient
2.	Inversely
3.	Control
4.	Substantive Procedures
5.	Analytical Procedures
6.	Confirmation Reply
7.	Competence
8.	Representation Letter.
9.	Relevant Assertions
10.	Working Trial Balance
11.	Lead Schedules
12.	Permanent File
13.	Adjusting Entries
14.	Changes
15.	Big Data Analytics