If the lower assessed level of control risk approach preliminary audit strategy is used, the planned level of substantive procedures will be:
A)high or very high.
B)at the lower level.
C)moderate or high.
D)at the higher level.

Question

Quizplus · Accepted Answer

When the assessed level of control risk is low, auditors rely more on the effectiveness of internal controls, allowing them to reduce the extent of substantive procedures needed.

If the Lower Assessed Level of Control Risk Approach Preliminary