Auditing Cases 6th Edition by Mark Beasley,Frank Buckless,Steven Glover,Douglas Prawitt

Exercise 3

In an independent audit of the financial statements of a large bank, why do auditors typically follow a controls reliance strategy (i.e., obtaining some audit assurance via controls testing) In the case of Societe Generale, do you believe the external auditors gathered much controls- related evidence regarding the Delta One trading desk Why or why not