Depending on the results of their tests of control the

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Reference no: EM13379847

Depending on the results of their tests of control, the auditors may restrict substitutive procedures.

• Discuss and contrast the following concepts:

o the planned assessment of control risk

o the revised assessment of the risk after tests of controls have been performed

- Identify and analyze the types of risks that organizations face and to apply the applicable risk knowledge to understand and perform better audits.

- Develop an auditor report attesting to management's assertions regarding the effectiveness of internal controls and recognize situations that present potential ethical and legal issues and develop solutions for those issues.

- Assess and explain the risks associated with all sampling procedures and how to use probability proportional to size sampling to test account balances.

Reference no: EM13379847

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