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Determine it is cost effective to perform test of control

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Reference no: EM132487132

Following are several decisions that the auditor must make in an audit of a nonpublic company.

Letters indicate alternative conclusions that could be made.

DECISIONS

ALTERNATIVE CONCLUSIONS

1. Determine whether it is cost effective to perform test of controls.

a. It is cost effective

b. It is not cost effective

2. Perform substantive test of details of balances

c. Perform reduced tests

d. Perform expanded test

3. Complete initital assessment of control risk

e. Controls are effective

f. Controls are ineffective

4. Perform tests of controls

g. Controls are effective

h. Controls are ineffective

REQUIRED

Question a. Identify the sequence in which the auditor should make decisions 1 to 4

Reference no: EM132487132

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