Which of the following is the most appropriate potential reaction of the auditor to his assessment that the risk of material misstatement due to fraud is high in relation to existence of inventory?

Related MCQs

• Assessment under following section is termed as scrutiny assessment
• Salary of S (Rs. 40,000 per month) becomes due on the last day of the month but is paid on 7th of next month. Also, salary of April, 2014 and May, 2014 is received in advance in March, 2014. What will be his gross income for Assessment Year 2014-15?
• A statutory auditor-------- also as internal auditor of the company
• The term of the auditor ship of first auditor would be from the date of appointment till………………………….
• The auditor’s _________ safeguards the auditor’s ability to form an audit opinion without being affected by any influences.
• ……………….is the medium through which an auditor expresses his opinion on the state of affairs of the client’s business.
• An auditor is required to determine the ____ of his audit procedures according to the requirements of Standards of Auditing.
• Professional judgment means a judgment taken by the auditor out of his ______ in an audit situation
• A company auditor can be removed before expiry of his term by
• While framing an audit plan auditor should ascertain his _____ cast by various legislations on him.