Reference no: EM132753038

Problem 1: Which of the following would help reduce audit risk to an acceptably low level?

(1) Increasing sample sizes for substantive tests of details
(2) Increasing sample sizes for tests of controls
(3) Obtaining external confirmations at or near the period end
(4) Conducting more audit procedures at an interim date rather than at the period end

Option 1: (1) and (2) only

Option 2: (1) and (3) only

Option 3: (2) and (4) only

Option 4: (1), (3) and (4)