Question
a) For what purpose should an auditor's understanding of the internal control components be used in planning an audit? b) Why may an auditor set
a)For what purpose should an auditor's understanding of the internal control components be used in planning an audit?
b)Why may an auditor set control risk at the maximum level for one or more assertions embodied in an account balance?
c)What are an auditor's documentation requirements concerning an entity's internal control system and the assessed level of control risk?
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell
14th Edition
1119707110, 978-1119707110
