After considering the client's internal control the auditors have concluded that it is well designed and is functioning as anticipated. Under these circumstances the auditors would most likely: Cease to perform substantive procedures, Reduce substantive procedures in areas where the internal control was found to be effective, Increase the extent of anticipated analytical procedures, Perform all tests of control to the extent outlined in the preplanned audit program
After considering the client's internal control the auditors have concluded that it is well designed and is functioning as anticipated. Under these circumstances the auditors would most likely: Cease to perform substantive procedures, Reduce substantive procedures in areas where the internal control was found to be effective, Increase the extent of anticipated analytical procedures, Perform all tests of control to the extent outlined in the preplanned audit program
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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After considering the client's internal control the auditors have concluded that it is well designed and is functioning as anticipated. Under these circumstances the auditors would most likely:
Cease to perform substantive procedures, Reduce substantive procedures in areas where the internal control was found to be effective, Increase the extent of anticipated analytical procedures, Perform all tests of control to the extent outlined in the preplanned audit program
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