If an auditor assessed control risk as low and decided to place reliance on the operating effectiveness of the client’s internal controls, what would the likely effect be on the extent of audit testing performed (compared to a wholly substantive audit)?
a.Increase in tests of controls audit procedures and decrease in substantive procedures
b.Increase in tests of controls audit procedures and increase in substantive procedures
c.Decrease in tests of controls audit procedures and decrease in substantive procedures
d.Decrease in tests of controls audit procedures and increase in substantive procedures
This question was answered on: May 23, 2022
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