Although substantive tests may support the accuracy of underlying records, these tests frequently provide no affirmative evidence of segregation of duties because Select one a. Substantive tests rarely guarantee the accuracy of the records if only a sample of the transactions has been tested. b. The records may be accurate even though they are maintained by a person who performs incompatible functions. c. Substantive tests relate to the entire period under audit, but tests of controls ordinarily are confined to the period during which the auditor is actually on the client's premises d. Many computerized procedures leave no audit trail of who performed them, so substantive tests may necessarily be limited to inquiries of office personnel Clear my choice For which of the following professional services must CPAs be independent? Select one: a. Management advisory services. b. Audits of financial statements. O Preparation of tax returns d. All three of the above. After obtaining an understanding of an entity's internal control structure, an auditor may assess control risk at the maximum level for some assertions because the auditor: Select one a. Believes the internal control policies and procedures are unlikely to be effective. b. Determines that certain general risks are possible. Performs some tests that will lower business risk to be more acceptable. d. Identifies internal control procedures that will prevent material misstatements