Which of the following statements regarding internal controls is correct? The effectiveness of internal controls does...
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Which of the following statements regarding internal controls is correct? The effectiveness of internal controls does not affect the level of acceptable detection risk. O When internal controls are effective, the auditor may eliminate substantive tests. When internal controls are ineffective, the extent of tests of controls will be increased. O When internal controls are ineffective, the extent of substantive tests will be increased. Which of the following statements regarding internal controls is correct? The effectiveness of internal controls does not affect the level of acceptable detection risk. O When internal controls are effective, the auditor may eliminate substantive tests. When internal controls are ineffective, the extent of tests of controls will be increased. O When internal controls are ineffective, the extent of substantive tests will be increased.
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Internal Are the mechanisms rules and procedures implem... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
Posted Date:
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