Question: Why does management have to trade off between costs and
Why does management have to trade off between costs and benefits of internal controls?
Relevant QuestionsHow does management’s cost–benefit trade-off decision affect control risk? Explain how using dual-purpose tests can lower audit costs. What is an audit internal control questionnaire? What two parts are important in writing out a control test for an audit program?Describe the two extreme cases of control risk assessment that an auditor could encounter in practice.
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