Author Question: An increased extent of tests of controls is most likely to occur when (Read 117 times)

wqwpfwpoefnpwenf · **on:** Aug 21, 2022

Question 1

An exception or deficiency found in a test of controls
◦ indicates a financial statement misstatement.
◦ indicates the likelihood of a misstatement.
◦ indicates that the financial statements are fairly stated.
◦ indicates that an adverse opinion is warranted on the audit of internal control.

Question 2

An increased extent of tests of controls is most likely to occur when
◦ it is a first-year audit.
◦ the auditor is doing a "fraud audit."
◦ controls are effective and the preliminary control risk assessment is low.
◦ controls are ineffective and the preliminary control risk assessment is high.

dadgoere765 · **Reply #1 on:** Aug 21, 2022

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