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Identify the correct order of steps for an auditor when applying a top-down approach to select controls to test in an integrated audit.

Identify the correct order of steps for an auditor when applying a top-down approach to select controls to test in an integrated audit.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Identify the correct order of steps for an auditor when applying a top-down approach to select controls to test in an integrated audit. Evaluation of overall risks at the financial statement level. II. Evaluation of accounts, disclosures, and assertions for which there is a reasonable possibility of material misstatement. III. Consideration of controls at the entity level. L OA. I, II, III OB. III, I, II OC. I, II, II OD. II, II, I
Transcribed Image Text:Identify the correct order of steps for an auditor when applying a top-down approach to select controls to test in an integrated audit. Evaluation of overall risks at the financial statement level. II. Evaluation of accounts, disclosures, and assertions for which there is a reasonable possibility of material misstatement. III. Consideration of controls at the entity level. L OA. I, II, III OB. III, I, II OC. I, II, II OD. II, II, I
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