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Auditing

Lecture 7 & 8

Audit risk, inherent and control risk, internal controls, substantive procedures, and audit sampling.

Question 14 of 57

If there is significant inherent risk and effective controls, what does the lecture suggest?

Pick one: press 1-4 on your keyboard or click an option.
A

Test controls and possibly reduce substantive procedures

B

Eliminate substantive procedures completely

C

Use only inquiry

D

Ignore controls and only do tests of details