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Auditors should not rely on prior period tests of controls, nor rely solely on substantive analytical procedures as sufficient appropriate audit evidence for what type

Auditors should not rely on prior period tests of controls, nor rely solely on substantive analytical procedures as sufficient appropriate audit evidence for what type of risks?

Multiple Choice

  • Risks involving liquid assets.

  • All risks in areas considered material to the financial statements.

  • All risks involving financial statement assertions.

  • Significant risks.

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