Chat with AI
Auditing & Assurance Services 6th Edition by Timothy Louwers
Edition 6ISBN: 978-0077862343Auditing & Assurance Services 6th Edition by Timothy Louwers
Edition 6ISBN: 978-0077862343 Exercise 47
An auditor is examining a nonpublic company's inventory procurement system and has decided to perform tests of controls. Under which of the following conditions do GAAS require tests of controls be performed by an auditor?
A) Significant weaknesses were found in the company's internal control.
B) The auditor hopes to reduce the amount of work to be done in assessing inherent risk.
C) The auditor believes that testing the controls could lead to a reduction in overall audit time and cost.
D) Tests of controls are always performed when the auditor begins to assess control risk.
A) Significant weaknesses were found in the company's internal control.
B) The auditor hopes to reduce the amount of work to be done in assessing inherent risk.
C) The auditor believes that testing the controls could lead to a reduction in overall audit time and cost.
D) Tests of controls are always performed when the auditor begins to assess control risk.
Explanation
Verified
Verified
An auditor evaluates the evidence obtain...
Auditing & Assurance Services 6th Edition by Timothy Louwers
Why don’t you like this exercise?
Other Minimum 8 character and maximum 255 character
Character 255
