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a. The following is sales transaction-related audit objective: Recorded sales are stated at the proper amounts. Required: State one test of control and one substantive
a. The following is sales transaction-related audit objective: Recorded sales are stated at the proper amounts. Required: State one test of control and one substantive test of transactions that the auditor can use to verify this audit objective. (4 marks)
b. Describe the audit risk model and the interrelationships of its components. Which components of the audit risk model can be controlled by the auditor? (4 marks)
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