WGU D251 ADAVANCED AUDITING OBJECTIVE

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WGU D251 ADAVANCED AUDITING OBJECTIVE

ASSESSMENT ACTUAL EXAM NEWEST 2025

ACTUAL EXAM COMPLETE 400 QUESTIONS

AND CORRECT DETAILED ANSWERS

(VERIFIED ANSWERS) |ALREADY GRADED A+

• What is the materiality level that an auditor uses for

determining significant accounts, significant locations, and audit procedures for those accounts and locations?

• Planning Materiality
• Overall Materiality
• Posting Materiality
• Performance Materiality

- THE CORRECT ANSWER is: d. Performance Materiality

• An auditor has determined performance materiality has been

set too high at the beginning of the audit. Which procedures should this auditor consider to detect misstatements?

• The auditor should perform additional substantive audit

procedures

• The auditor should perform additional control audit

procedures.

• The auditor should perform fewer control audit procedures

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• The auditor should perform fewer substantive procedures

- THE CORRECT ANSWER is: a. The auditor should

perform additional substantive audit procedures

• Which risk exists at the overall financial statement level and

at the assertion level and can be categorized as involving inherent risk and control risk?

• Client business risk
• Auditor business risk
• Engagement risk
• Risk of material misstatement

- THE CORRECT ANSWER is: d. Risk of material

misstatement

• What represents an identified and assessed risk of material

misstatement that requires special audit consideration?

• Audit risk
• Significant risk
• Control risk
• Inherent risk

- THE CORRECT ANSWER is: b. Significant risk

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• What is the impact on the amount of acceptable audit risk if

an auditor believes the chance of financial failure of a client is high?

• The acceptable audit risk is zero
• The acceptable audit risk is reduced
• The acceptable audit risk is increased
• The acceptable audit risk remains the same

- THE CORRECT ANSWER is: b. The acceptable audit risk

is reduced

• Which factor should lead an auditor to assess inherent risk as

high?

• The account balance consists of a high volume of routine

transactions

• The account balance consists of a large number of complex

transactions

• The account balance is subject to a large number of routine

year-end adjustments

• The account balance requires a high level of client

estimation, which the auditor has audited

- THE CORRECT ANSWER is: b. The account balance

consists of a large number of complex transactions

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• Which factor would lead an auditor to assess client business

risk at a higher level?

• The overall business climate for the client appears to be

mixed for the foreseeable future

• The client has hired somewhat experienced personnel to

deal with industry changes

• The client's use of information technology is incompatible

across systems and processes

• The client has developed technology-related partnerships

- THE CORRECT ANSWER is: c. The client's use of

information technology is incompatible across systems and processes

• An auditor determines overall materiality of $500,000 would

be material to the income statement and $1,000,000 would be material to the balance sheet. Which amount would an auditor typically assess performance materiality to be for this client?

• $1,000,000
• 75% of $1,000,000
• 75% of $500,000
• $500,000

- THE CORRECT ANSWER is: c. 75% of $500,000