Select the necessary words from the list of possibilities to complete the following statements. Statements Answer The authenticity and accuracy of an account receivable may be tested by account to supporting documents. with the debtor, or by vouching entries in the 1. confirmation 2. The provides an overview which includes the nature, timing and extent of procedures to be performed in an audit. audit plan 3. Audit procedures that are focused on the effectiveness of internal control are called tests of controls Performing certain audit procedures at an interim date, rather than at the balance sheet date, results in additional be controlled by the auditors. that must 4 risk 5. Audit risk at the account balance level consists of three components: (1) (2) control risk and (3) detection risk. 6. Tests of balances and transactions designed to detect material misstatements are called substantive procedures (tests) 7. Assertions are that are set forth in the financial statements. representations of management 8. The of SEC registrants selects the company's audit firm. audit committee audit committee misappropriation of assets audit plan confirmation cutoff representations of management risk substantive procedures (tests) tests of controls inherent risk misappropriation of assets