No matter how low control risk is assessed,some substantive testing of account balances must be conducted for material account balances.

Name: No matter how low control risk is assessed,some substantive testing of account balances must be conducted for material account balances.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This statement is true. Substantive testing is necessary even if control risk is assessed as low in order to provide a reasonable level of assurance that material account balances are fairly stated.

No Matter How Low Control Risk Is Assessed,some Substantive Testing