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In which of the following situations would an auditor most likely assess control risk as...

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Accounting

  1. In which of the following situations would an auditor most likely assess control risk as high?

A. Substantive procedures alone are unlikely to reduce audit risk to a sufficiently low level.

B. Test of controls reveals that the internal controls are not operating effectively.

Required: Answer in the space below:

i. Which of the two options (A or B) is correct.

ii. Why the response selected is correct.

iii. Why the response not selected is incorrect.


Answer & Explanation Solved by verified expert
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