Which of the following is a step in an auditor's decision to assess control risk...
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Accounting
Which of the following is a step in an auditor's decision to assess control risk at below the maximum? - Apply analytical procedures to both financial data and nonfinancial information to detect conditions that may indicate weak controls. - Perform tests of details of transactions and account balances to identify potential errors and fraud. - Identify specific internal control policies and activities that are likely to detect or prevent material misstatements. - Document that the additional audit effort to perform tests of controls exceeds the potential reduction in substantive testing
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