work to understand internal control and t this situation is most likely: A) at a level determined at a later date B) at the lowest possible level C at the madmum level D) at the level assessed due to the undestanding 38) The company is medium sized with some controls and a few inherent risks Procedures to obtain an understanding of internal control were done to a medium level. The most likely reason for the auditor not to have done this testing at an extensive level was: A) the benefits achieved out weighed the added costs B) the cost were too high. C) the controls were not going to be relied on. D) control risk was assessed as medium" 38) 39) For the company mentioned in the previous example, substantive tests would probably be conducted at which of the following levels A) not done at all at a medium level 39) B) at the lowest possible level D) at the highest possible level 40) For the company mentioned at the previous question, test of controls disclosed significant control deviations and errors. The level of control risk would most likely be set A) at the highest possible level )at the lowest possible level B) at a level to be determined at a later date D) at the level initially assensed Show transcribed image text