Experience Senior|22 Jun 23 AM

What is the type of bias that matches below definition?

Certain information is actively gathered or considered as more persuasive, that is consistent with initial expectations or a favored belief.

• Confirmation bias

• Motivated reasoning

• Availability bias

• Familiarity bias

What is the type of bias that matches below definition?

Too much reliance is placed on one piece of information or set of circumstances and is often the initial information identified or understood.

• Overconfidence bias

• Familiarity bias

• Anchoring bias

• Availablity bias

What is not considered as one of key interviewing skills and behaviors

• Building a rapport

• Using funneling technique

• Applying professional skepticism

• Reviewing contrary evidence

What risk factors do we consider for accounting estimates?

• Estimation uncertainty, Complexity and Probability

• Complexity, Subjectivity and Estimation uncertainty

• Subjectivity, Reliability and Complexity

• Bias, Estimation uncertainty and Volatilit

Which factor need to be considered in terms of "Subjectivity of Estimation"?

• Susceptibility to misstatement due to management bias or fraud

• Length of forecast period & uncertainty of trends

• Selection and application of method, significant assumptions and data

• Process for developing the estimate
  

Which form do we use to document our understanding of estimation SCOTs?

• 202-A Understand the estimation SCOT form

• 280-E Estimation SCOT form

• 201 Accounting estimates form

• Either A or B, we can choose

• Both of B and C