If inherent risk is low and a reasonable level of assurance has been gained from controls testing,extensive substantive procedures need to be performed to estimate the dollar value of any error in an account balance.
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Q12: Tracing certain amounts on the bank reconciliation
Q13: Which of the following is an example
Q14: Which of the following is an example
Q15: To improve efficiency,auditors test only those controls
Q16: An example of a purely manual control
Q18: Re-performance involves the auditor re-performing the control
Q19: IT general controls are driven by the
Q20: Tests of account balances can often provide
Q21: The Committee of Sponsoring Organisations (COSO)of the
Q22: Benchmarking is appropriate when:
A)the application is stable.
B)a
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