Auditing standards indicate that if the preliminary control risk assessment is low, the auditor must gain assurance
Question:
a. What is meant by testing the operating effectiveness of control procedures? How does an auditor decide which controls to test?
b. How is the auditor's assessment of control risk affected if a documented control procedure is not operating effectively? Explain the effect of such an assessment on substantive audit procedures.
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Related Book For
Auditing a risk based approach to conducting a quality audit
ISBN: 978-1133939153
9th edition
Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg
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