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mktrujillo mktrujillo
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2 years ago
Which of the following represents a correct statement regarding internal control testing?

▸ When auditors plan to use evidence about the operating effectiveness of internal control contained in prior audits, auditing standards require tests of the controls' effectiveness at least every other year.

▸ The greater the risk, the less audit evidence the auditor should obtain that controls are operating effectively.

▸ The auditor uses control risk assessment and results of tests of controls to determine planned detection risk and the related substantive tests for the financial statement audit.

▸ Testing of internal controls can only be performed by the auditor at the end of the fiscal year.
Textbook 
Auditing and Assurance Services

Auditing and Assurance Services


Edition: 17th
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culwri204culwri204
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2 years ago
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mktrujillo Author
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This site is awesome
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Thank you, thank you, thank you!
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Helped a lot
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