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Author Question: Once auditors determine that entity level controls are designed and placed in the operation, they (Read 59 times)

allywil32

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Question 1

Before making the final assessment of internal control at the end of an audit, the auditor must

Test controls Perform substantive tests 
YesYes


Test controls Perform substantive tests 
NoNo


Test controls Perform substantive tests 
YesNo


Test controls Perform substantive tests
NoYes


Question 2

Once auditors determine that entity level controls are designed and placed in the operation, they
◦ make a preliminary assessment for each transaction-related audit objective for each major type of transaction.
◦ make a preliminary assessment of control risk.
◦ obtain an understanding of the design and implementation of internal control.
◦ prepare audit documentation in order to express their opinion on the company's internal control system.


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Marked as best answer by allywil32 on Aug 21, 2022

miro2222

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Only 59% of students answer this correctly




allywil32

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Reply 2 on: Aug 21, 2022
YES! Correct, THANKS for helping me on my review


softEldritch

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Reply 3 on: Yesterday
:D TYSM

 

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