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(a) ISA 400 Risk Assessments and Internal Control identifies a number of key procedures which auditors should perform if they wish to rely on internal
(a) ISA 400 Risk Assessments and Internal Control identifies a number of key procedures which auditors should perform if they wish to rely on internal controls and reduce the level of substantive testing they perform. These include: (i) Documentation of accounting and internal control systems; (ii) Walk-through test; and (iii) Audit sampling Required: Briefly explain each of the procedures listed above. (6 marks)
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