In Figure, explain the difference among C3, C2, and C1. Explain the circumstances under which it will
Question:
FIGURE Audit Assurance from Substantive Tests and Tests of Controls at
Different Levels of Internal ControlEffectiveness
Transcribed Image Text:
Acceptable assurance Audit assurance cfrom control risk assessment and tests of controls Audit assurance from substantive tests No assurance INTERNAL CONTROL EFFECTIVENESS Weak control Strong control C, No reliance on controls. C2 Some reliance on controls C, Maximum reliance on controls.
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C represents the auditors assessment of the effectiveness of internal control C 3 represents the ide...View the full answer
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Related Book For
Auditing and Assurance services an integrated approach
ISBN: 978-0132575959
14th Edition
Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley
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