Question: this is auditing assessment about internal controls please help SECTION 2 - CASE STUDY: Assessment of Internal Controls (15 Marks) Required: During the course of
this is auditing assessment about internal controls please help

SECTION 2 - CASE STUDY: Assessment of Internal Controls (15 Marks) Required: During the course of the audit of Datexx, you wish to achieve a low level of audit risk on an engagement. Inherent risk related this portion of the audit is considered at the maximum. While obtaining an understanding of this of the internal control structure of Datexx, you have determined that it appears to be very strong portion. Nonetheless, due to the large number of transactions involved, the auditors have chosen not to test controls in the area. a. b. C. d. At what level will the auditors establish the planned assessed level of control risk? (2 marks) Describe the scope of tests of controls that will be performed. (2 marks) At what level will the assessed level of control risk be? (2 marks) What needs to be documented in the working papers relating to internal control? (2 marks) At what level will detection risk be established? (2 marks) Describe the needed scope of substantive tests, if any. Make certain to discuss details of likely nature, timing, and extent. Discuss factors such as the source of evidence, when procedures are likely to be performed, and sample size. (2 marks) How would your approach have changed if you decided to test the controls to the extent possible? (3 marks) e. f. g
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