Is it ever appropriate under Auditing Standards for the auditors to conclude that inherent and control risks

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Is it ever appropriate under Auditing Standards for the auditors to conclude that inherent and control risks are so low it is unnecessary to verify any assertions by substantive procedures for any material account balances? Explain.

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Modern Auditing

ISBN: 9780471230113

1st Edition

Authors: Graham Cosserat

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Question Posted: May 05, 2024 05:01 AM

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Is it ever appropriate under Auditing Standards for the auditors to conclude that inherent and control risks

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Under Auditing Standards its theoretically possible for auditors to conclude that inherent and control risks are so low that its unnecessary to verify ...View the full answer

Modern Auditing

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