If personnel in the organization are not performing their control activities very well,auditors will need to design substantive procedures to try to detect whether control failures have produced misleading financial statement account balances.
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Q11: Normally,liabilities should be recorded on the date
Q12: The principal goal of the physical inspection
Q12: "Recorded vouchers (accounts payable entries) in the
Q13: The main feature of custody in the
Q14: Auditors' "search for unrecorded liabilities" should emphasize
Q15: Record keeping is performed by payroll and
Q17: The basic acquisition and expenditure activities are
Q18: The payroll bank account cannot be reconciled
Q19: The search for unrecorded liabilities should normally
Q20: If the risk of material misstatement is
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