Chapter_08 - Chapter 08 Student 1 Assessing control risk at...

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Chapter 08 Student: ___________________________________________________________________________ 1. Assessing control risk at less than high involves all of the following except: A. identifying specific controls to rely on. B. concluding that controls are ineffective. C. performing tests of controls. D. analysing the achieved level of control risk after performing tests of controls. 2. Obtaining an understanding of the internal control and assessing control risk: 3. Tests of controls are performed to determine whether or not: A. control policies and procedures are functioning as designed. B. necessary controls are absent. C. incompatible functions exist. D. material dollar misstatements exist. 4. The conclusion reached as a result of assessing control risk is referred to as the: 5. An auditor assesses the level of control risk to:
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6. How does the extent of substantive tests required to constitute sufficient appropriate audit evidence vary with the auditor's assessment of control risk? A. Randomly. B. Disproportionately. C. Directly. D. Inversely. 7. After obtaining an understanding of internal control in an audit engagement, the auditor should perform tests of controls on: 8. The ultimate purpose of assessing control risk is to contribute to the auditor's evaluation of the:
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