Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. discuss the relationships among the initial assess

Discuss the relationships among the initial assessed control risk, test of controls, and substantive tests of...

50.1K

Verified Solution

Question

Accounting

Discuss the relationships among the initial assessed controlrisk, test of controls, and substantive tests of transactions forcash disbursements, and the tests of details of cash balances.Provide one example in which the conclusions reached about internalcontrols in cash disbursements will affect the tests of cashbalances.

Answer & Explanation Solved by verified expert
4.1 Ratings (830 Votes)
If the auditors understanding of internal control and tests of controls and substantive tests of transactions during the acquisition and payment cycle cause them to believe that it is recommended to reduce the assessed control risk level to low they can reduce detailed tests of the ending    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

Understanding the molecular consequences of CFTR mutations has significantly contributed to the development of new treatments for cystic fibrosis. (a)...

Biology
1.2K views

In two to three sentences describe the most common ways of transmission of H Normal...

Biology
1.2K views

All of these sentences include commonly confused homophones. Which sentence is correct? a) It is...

Physics
1.2K views

30 An LC circuit contains a 20 mH inductor and a 50 F capacitor with...

Geometry
1.2K views

D A jar contains 4 red marbles 7 green marbles and without replacement a green...

Basic Math
1.2K views

Use the given vectors to find vw and v v v 71 5j w 10i...

Accounting
1.2K views

Standards differ from budgets in that Select one: a.budgets but not standards may be used...

Accounting
1.2K views

Please solve requirement 5, requirement 6, and requirement 7. 6 Enter the last 4...

Accounting
1.2K views

Explain what accounting adjustments are and why firms use them.

Accounting
1.2K views

On the basis of the data shown below: Inventory Cost per Market Value per Unit...

Accounting
1.2K views

Required information Problem 17-5A Comparative ratio analysis LO P3 [The following information applies to the...

Finance
1.2K views

1a. Kobe should capitalize $70,000 of interest on specific construction debt. 1b. Journal entry to...