In which of the following audit approaches, auditor gives less attention to the immaterial areas?Single choice. 

Audit risk approach

Substantive Approach

Audit risk approach & System based approach

System based approach

5.Improvements in internal controls can only affect control risk in the future audit but not in the current audit.Single choice. 

True

False

6.In which of the following approaches, auditor don't rely on entity's internal control system and test every item individually?Single choice. 

Substantive Approach

System based approach

Audit risk approach

All of above

Answer rating: 100% (QA)

4 Answer a Audit risk approach Riskbased approach is the technique that auditor... View the full answer