Auditors may restrict substantive procedures based on the results of tests of controls. a. Discuss and contrast
Question:
a. Discuss and contrast the concepts of the planned assessment of control risk and the revised assessment of the risk after tests of controls have been performed.
b. Using internal control for the existence assertion for accounts receivable, provide an example that distinguishes among the concepts discussed in part (a) above.
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a The planned assessed level of control risk is the level the auditors intend to use in performing t...View the full answer
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Related Book For 
Principles of Auditing and Other Assurance Services
ISBN: 978-0078025617
19th edition
Authors: Ray Whittington, Kurt Pany
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