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What Is Nature Timing And Extent Of Audit Procedures?

January 24, 2024 by Ahmed Ali

What Is Nature Timing And Extent Of Audit Procedures? Timing of an audit procedure refers to when it is performed, or the period or date to which the audit evidence applies. … Extent of an audit procedure refers to the quantity to be performed, for example, a sample size or the number of observations of

What Is The Relationship Between Materiality And Audit Risk?

January 24, 2024 by Ahmed Ali

What Is The Relationship Between Materiality And Audit Risk? There is an inverse relationship between materiality and the level of audit risk, that is the higher the materiality level, the lower the audit risk and vice versa. Auditors take into account the inverse relationship between materiality and audit risk when determining the nature, timing and