Which is most likely when the assessed level of control risk increases? Use larger sample sizes for substantive procedures. Perform substantive procedures directed inside the entity rather than tests directed toward parties outside the entity. Change from performing substantive procedures at year-end to an interim date. Use the maximum number of dual purpose tests.
Which is most likely when the assessed level of control risk increases? Use larger sample sizes for substantive procedures. Perform substantive procedures directed inside the entity rather than tests directed toward parties outside the entity. Change from performing substantive procedures at year-end to an interim date. Use the maximum number of dual purpose tests.
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
Chapter8: Specialized Audit Tools: Attributes Sampling, Monetary Unit Sampling, And Data Analytics Tools
Section: Chapter Questions
Problem 7CYBK
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Which is most likely when the assessed level of control risk increases? Use larger sample sizes for substantive procedures. Perform substantive procedures directed inside the entity rather than tests directed toward parties outside the entity. Change from performing substantive procedures at year-end to an interim date. Use the maximum number of dual purpose tests.
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