The understanding of internal control that relates to a financial statement assertion should be used to do

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The understanding of internal control that relates to a financial statement assertion should be used to do all of the following except

a. Determine inherent risk for that assertion.

b. Identify types of potential misstatements for that assertion.

c. Consider factors that affect the risk of material misstatement for that assertion and assess control risk.

d. Design substantive tests that correspond with the assessment of control risk.

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Auditing An Assertions Approach

ISBN: 9780471134213

7th Edition

Authors: G. William Glezen, Donald H. Taylor

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Question Posted: May 07, 2024 02:01 AM

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The understanding of internal control that relates to a financial statement assertion should be used to do

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The correct answer is d Design substantive tests that correspond with the assessment of control risk ...View the full answer

Auditing An Assertions Approach

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