If the auditor decides to rely on internal control evidence in the long-term debt and owner's equity process,he will first

Question

Quizplus · Accepted Answer

Before relying on internal control evidence in the long-term debt and owner's equity process, the auditor must first document the internal control system to assess its effectiveness in ensuring accuracy and completeness of financial information. Reviewing computer access controls, determining the amount of long-term debt, and determining the amount of owner's equity would come after assessing the internal control system.

If the Auditor Decides to Rely on Internal Control Evidence