Auditing and Assurance Services 1st Edition by Iris Stuart

Exercise 8

The ultimate purpose of assessing control risk is to contribute to the auditor's evaluation of the risk that a. Tests of controls may fail to identify controls relevant to assertions.
B) Material misstatements may exist in the financial statements.
C) Specified controls requiring segregation of duties may be circumvented by collusion.
D) Entity policies may be overridden by senior management.