Reference no: EM132671591

Problem 1: The purpose of using analytical procedures in auditing is to:

a) Identify unexpected fluctuations and relationships

b) Test for inefficiencies in operations

c) Understand internal controls

d) Assess the auditor's competence to perform the audit

Problem 2: Which of the following is an advantage of using statistical sampling instead of non-statistical sampling?

a) Allows for the measurement of audit risk

b) Allows the auditor to select a sample they believe is appropriate

c) None of the alternatives

d) Is easier to use than non-statistical sampling

Problem 3: The audit client is importing a new type of product which it has not previously sold. This is an example of:

a) Audit risk

b) Inherent risk

c) Detection rick

d) Control risk