Auditing: A Risk Based-Approach to Conducting a Quality Audit
Auditing: A Risk Based-Approach to Conducting a Quality Audit
10th Edition
ISBN: 9781305080577
Author: Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher: South-Western College Pub
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Chapter 9, Problem 55RSCQ

a

To determine

Introduction: Test of controls is the audit procedures, performed to test the operating effectiveness. The test is for detect material misstatements at assertion level. It requires inspection of documents, reperformance of the control to gather the information.

To ascertain: The way that the auditor use the four types of exception reports in assessing the effectiveness of control

b

To determine

Introduction: Test of controls is the audit procedures, performed to test the operating effectiveness. The test is for detect material misstatements at assertion level. It requires inspection of documents, reperformance of the control to gather the information.

To ascertain: The chances that many exceptions affect the auditor’s assessment and judgment of effectiveness of control risk.

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Students have asked these similar questions
An auditor is likely to use procedures to support the operating effectiveness of internal controls. Which of the following would generally not be used ? Select one : O a. Re -perform client procedures O b. Examine documents , records, and reports O c. Make inquiries of appropriate client personnel O d. Analytical procedures
When completing the audit of internal controls for an issuer, the severity of an internal control deficiency depends ona. Whether there is a reasonable possibility that the company’s controls will fail to prevent or detect a misstatement of an account balance or disclosure.b. Whether a misstatement has actually occurred as a result of the deficiency.c. The magnitude of the potential misstatement resulting from the deficiency or the deficiencies.d. Both a and c are correct.e. All of the above are correct.
The likelihood that material misstatements may have entered the accounting system and notbeen detected and corrected by the client’s internal control is referred to asa. Inherent risk.b. Control risk.c. Detection risk.d. Risk of material misstatement.

Chapter 9 Solutions

Auditing: A Risk Based-Approach to Conducting a Quality Audit

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