Reference no: EM132725854

Problem 1: Which of these would be a reason for adopting a predominantly substantive approach?

Select one:

Option 1: There are no significant control procedures that pertain to the assertion.
Option 2: Accounts are affected by more than one transaction class.
Option 3: Control risk has been assessed as low.
Option 4: Detection risk has been assessed as high.

Problem 2: The greatest impact on audit effectiveness comes from the risk(s) of:

Select one:

Option 1: overreliance and incorrect acceptance.
Option 2: underreliance and incorrect acceptance.
Option 3: overreliance and incorrect rejection.
Option 4: underreliance and incorrect rejection.