When the auditor has assessed the level of control risk at less than high, the auditor should document:
A)the understanding of the entity's internal control elements obtained to plan the audit.
B)the conclusion and the basis for that conclusion.
C)the implications for the overall audit strategy.
D)All of the given answers are correct.

Question

Quizplus · Accepted Answer

When the auditor has assessed the level of control risk at less than high, they should document all of the given answers. This includes documenting the understanding of the entity's internal control elements obtained to plan the audit, the conclusion and the basis for that conclusion, and the implications for the overall audit strategy. This documentation is necessary to support the auditor's conclusions and to enable effective review by other members of the audit team.

When the Auditor Has Assessed the Level of Control Risk