Auditing & Assurance Services 7th Edition by Timothy Louwers Test bank

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B. Decisions are time-sensitive

C.	Users separated from accounting records by distance and time

D.	Financial decisions that are important to investors and users

E.	All of these

21.

Which of the following is not included in The American Accounting Association (AAA) definition of auditing?

A.	Potential conflict of interest

B.	Systematic process

C.	Assertions about economic actions

D.	Established criteria

22.

What is the term used to identify the risk that the client's financial statements may be materially false and misleading?

A.	Business risk

B.	Information risk

C.	Client risk

D.	Risk assessment

23.

Which of the following is not a recommendation usually made following the completion of an operational audit?

A.	Economic and efficient use of resources

B.	Effective achievement of business objectives

C.	Attesting to the fairness of the financial statements