Question: What are dual purpose tests How does the auditor use them
What are dual-purpose tests? How does the auditor use them?
Relevant QuestionsWhat information does the evidence the auditor gathers using internal control tests provide? What information does the evidence the auditor gathers using substantive testing provide? Which type of evidence is better? What are internal control deficiencies in design and in operation? Regarding the effectiveness of internal controls over financial reporting, when does the auditor issue an unqualified opinion? Under what circumstances does the auditor issue an adverse opinion and a disclaimer of opinion? Refer to Management’s Report on Internal Control over Financial Reporting in Exhibit 3-7 for Goodyear Tire & Rubber Co.a. Describe the steps taken by management to assess the company’s internal controls. b. Can you tell ...Describe two ways that a client could misstate revenue. Which of these two methods could be harder for the auditor to catch?
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