In an audit of financial statements of a non-public company in accordance with generally accepted auditing standards,
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Question:
In an audit of financial statements of a non-public company in accordance with generally accepted auditing standards, an auditor is required to:
Multiple Choice
- document the auditor's understanding of the entity's internal control.
- determine whether control activities are operating effectively to prevent or detect material misstatements.
- search for significant deficiencies in the operation of the internal controls.
- perform tests of controls to evaluate the effectiveness of the entity's accounting system.
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