Risk, Evidence Не Запомнились

Question 1

After obtaining understanding of internal control and performing risk assessment procedures, auditor decided not to perform test of controls. The auditor most likely concluded that the:

Answer 1

Additional evidence to support a reduction in control risk was not cost-beneficial to obtain

Question 2

An auditor’s risk assessment is based on the assumption that controls are operating effectively. Which of the following was not a step in making this assessment?

Perform test if details of transactions to detect material misstatement in the FS

Answer 2

Perform test if details of transactions to detect material misstatement in the FS

Question 3

An auditor of a nonissuer should design tests of details to ensure that sufficient audit evidence supports which of the following?

The planned level of assurance at the relevant assertion level

Answer 3

The planned level of assurance at the relevant assertion level

Question 4

The objective of tests of details of transactions performed as tests of control is to:

Evaluate whether internal control operated effectively

Answer 4

Evaluate whether internal control operated effectively