Hoe mer 38 An auditor is testing controls on interest revenue. One of the controls established is to prepara a monthly bank reconciliation During the testing of the bank reconciliation process, it is determined that the bank reconciliations were prepared appropriately. However, it is determined that the timing of the bank reconciliation preparation was sometimes late, which resulted in the interest revenue being recorded in the wrong month Which conclusion should the auditor draw in this situation? 2 Exam aids The interest revenue was recorded in the prior month The audit procedures are insufficient A control exception exists A compensating control is in place Question navigation 37 38 39 40 41 42 44 45 46 47 48 49 REV 50 51 52