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urgent plz 1) You have watched and listened to two vignettes where the partner, the manager and the senior associate are discussing the design of
urgent plz
1) You have watched and listened to two vignettes where the partner, the manager and the senior associate are discussing the design of the control over the prepaid insurance, how it was operationalized, and why the control failed to detect the error. As they try to determine the root cause of the error, it becomes clear that additional information is needed before they can reach a conclusion. Based on your understanding of the subject matter in this scenario, answer the following questions: A) If there was no error identified in the substantive testing, would this deficiency still exist? B) Why does the control deficiency grow from a deficiency to a material weakness? What impact might it have on the audit engagement Step by Step Solution
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