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Question 5 There are a number of key procedures which auditors should carry out if they wish to rely on internal control and reduce the

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Question 5 There are a number of key procedures which auditors should carry out if they wish to rely on internal control and reduce the level of substantive testing they perform. These include: a) Documentation of accounting and internal control systems. b) Walk- through review tests. c) Assessing control risks. d) Testing internal controls e) Documenting control weaknesses Required: Why is each of the procedures above an important part of the audit process

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