Question: LO 7 When assessing whether controls are operating effectively, does the auditor need to reperform the control? For example, consider a client with a control
LO When assessing whether controls are operating effectively, does the auditor need to reperform the control? For example, consider a client with a control that includes reconciling recorded accounts payable to monthly statements received from suppliers. Would the auditor review the reconciliation or reperform the reconciliation? Explain the rationale for your response.
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
