QUESTION 48 If an employee who has access to the custody of assets steals a cash remittance and covers the theft by recording a bad debt write off, there was likely a folure in the category of authorization control performance reviews physical controls segregation of duties QUESTION 49 The amount of evidence that an auditor must collect is a function of the risk of material misstatement in a relevant assertion for an account balance or class of transactions prior years' audit risk a detailed assessment of the clients' system of internal control the wity of the client to provide all documentation requested by the auditor QUESTION 50 Most companies design detection controls to ensure that if detection controls are not effective, errors or fraud will be detected and corrected on a timely basis to catch errors or traud while the transactions are being processed to catch errors or fraud before the transactions have been processed to ensure that if prevention controls are not effective, errors or fraud will be detected and corrected on a timely basis