24 / For each of the four situations below, identify the amount of evidence you...
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Accounting
24 / For each of the four situations below, identify the amount of evidence you would plan to gather ("planned evidence") using the terms high, medium, or low. SITUATION SITUATION SITUATION SITUATION Acceptable audit risk 1 2 3 4 Inherent risk Low Low High High Control risk High Low Low Low High Low Medium Low SITUATION SITUATION SITUATION SITUATION 1 2 3 4 Acceptable audit risk Low Low High High Inherent risk High Low Low Low Control risk High Low Medium Low planned evidence
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