MCQ AUD 3.8 Flashcards
1
Q
evaluating operating effectiveness of internal control
A
R- Re-Performance
I-Inquiry
I-Inspections
O-Observations
2
Q
Test of control should be done( That is if there is high degree of electronic processing)
A
If substantive tests alone are not enough
If the analytical procedures have revealed no unusual or unexpected results then auditor may decide to reduce test of details
3
Q
Always necessary in a financial statement Audit
A
Analytical procedures and risk assessment procedures
