high for all financial statements assertions, an auditor should document the auditor’s     A B C D ·       Understanding of the entity’s internal control structure Yes Yes No Yes ·       Conclusion that control risk is less than high No Yes Yes Yes ·       Basis for the conclusion that control risk is less than high Yes Yes No No Group of answer choices B C A D

Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter3: Internal Control Over Financial Reporting: Responsibilities Of Management And The External Auditor
Section: Chapter Questions
Problem 40CYBK
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When control risk is assessed at less than high for all financial statements assertions, an auditor should document the auditor’s

 

 

A

B

C

D

·       Understanding of the entity’s internal control structure

Yes

Yes

No

Yes

·       Conclusion that control risk is less than high

No

Yes

Yes

Yes

·       Basis for the conclusion that control risk is less than high

Yes

Yes

No

No

Group of answer choices
B
C
A
D
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