When an auditor is planning an audit, the auditor should: Consider whether the extent of substantive procedures may be reduced based on the results of internal control questionnaire, Make preliminary judgments about materiality levels for audit purposes, Conclude whether changes in compliance with prescribed control procedures justifies reliance on them, Prepare a preliminary draft of the management representation letter
When an auditor is planning an audit, the auditor should: Consider whether the extent of substantive procedures may be reduced based on the results of internal control questionnaire, Make preliminary judgments about materiality levels for audit purposes, Conclude whether changes in compliance with prescribed control procedures justifies reliance on them, Prepare a preliminary draft of the management representation letter
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 37CYBK
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When an auditor is planning an audit, the auditor should: Consider whether the extent of substantive procedures may be reduced based on the results of internal control questionnaire, Make preliminary judgments about materiality levels for audit purposes, Conclude whether changes in compliance with prescribed control procedures justifies reliance on them, Prepare a preliminary draft of the management representation letter
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