After obtaining an understanding of internal control and assessing control risk, an auditor decided to perform test
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Question:
After obtaining an understanding of internal control and assessing control risk, an auditor decided to perform test of controls. The auditor most likely decided that:
- a. An increase in the assessed level of control risk is justified for certain financial statement assertions.
- b. There were many internal control weaknesses that could allow errors to enter the accounting system.
- c. It would be efficient to perform test of controls that would result in a reduction in planned substantive tests.
- d. Additional evidence to support a further reduction in control risk is not available.
Related Book For
Auditing and Assurance Services
ISBN: 978-0077862343
6th edition
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
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