Question
Which of the following statements regarding internal controls is correct? The effectiveness of internal controls does not affect the level of acceptable detection risk.
Which of the following statements regarding internal controls is correct? The effectiveness of internal controls does not affect the level of acceptable detection risk. O When internal controls are effective, the auditor may eliminate substantive tests. When internal controls are ineffective, the extent of tests of controls will be increased. O When internal controls are ineffective, the extent of substantive tests will be increased.
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Intermediate Accounting
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
1st edition
978-0133251579, 133251578, 013216230X, 978-0134102313, 134102312, 978-0132162302
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