Provide a brief description about the following:

1. When the auditor considered that the Board of Directors are effective as a part of the internal control component?

2. What are the main differences between the auditor procedures to obtain understanding of the internal control and test of control.

3. There are several factors influence the auditors decision for selecting the appropriate type of test to perform. Mention these factors?

4. How management communicate with risk as a part of the internal control component?

5. What is the methodology for designing tests of balances (for example: Accounts Receivable)

6. Mention five factors only which affecting the auditor assessment of Inherent Risk?