True/False
When the assessment of inherent risk and control risk is low,the amount of substantive testing required to reduce the detection risk to an acceptable level is significant.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q27: Observing the client's stocktake enables the auditor
Q28: Existence of trade receivables is usually verified
Q29: The additional opportunities for influencing the timing
Q30: Investments can be vouched to supporting external
Q31: Auditors usually test for the existence of
Q33: Testing the mathematical accuracy of the cash
Q34: Explain how auditors evaluate the results of
Q35: The collapse of Worldcom in 2002 caused
Q36: The timing of substantive testing is dependent
Q37: Discuss the specific issues that auditors should