il: As the assessed level of control risk increases, the acceptable level of detection risk decreases and in planning substantive tests an auditor would perform more persuasive tests, perform tests at interim dates, and would test more extensively. | $2: The auditor would always performs analytical procedures for all significant account balances and transactions as part of his substantive tests. 53: In a tests of controls, for a sample of 40 cash disbursements, 8 failed to have the approval initials of the accounts payable manager before payment, a control activity implemented by management to assure that only approved invoices are paid is an example of reportable condition.
Sil: As the assessed level of control risk increases, the acceptable level of detection risk decreases and in planning substantive tests an auditor would perform more persuasive tests,
perform tests at interim dates, and would test more extensively. |
$2: The auditor would always performs analytical procedures for all significant account balances and transactions as part of his substantive tests.
53: In a tests of controls, for a sample of 40 cash disbursements, 8 failed to have the approval initials of the
A: Ifall statements are correct.
B-If only one statement is correct.
C-If only two statements are correct.
D- If all statements are incorrect.
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