Performing Further Procedures and Obtaining Evidence Flashcards
1
Q
What are the four “tests of controls”?
A
Inquiry, Inspection, Observation, & Reperformance
2
Q
Three examples of substantive testing
A
Analytical procedures, confirmation, and calculation
3
Q
Attribute sampling is used primarily for tests of ______, while variable sampling is most useful for substantive testing.
A
controls
4
Q
The auditor is responsible for determining the accuracy or the reasonableness of management estimates?
A
REASONABLENESS
5
Q
SOC 1 report focuses on suitable design of controls whereas SOC 2 focuses mainly on ——-
A
Operational effectiveness of controls
6
Q
How many days does the auditor of a NONISSUER have to assemble the audit file following the report release date?
A
60 days (45 for issuers)
