Q:

If the financial reporting risks for a location are low and the entity has good entity-level controls, management may rely on which of the following for its assessment?

belongs to book: AUDITING & ASSURANCE SERVICES | A Systematic Approach|William F.Messier, Steven M.Glover, Douglas F. Prawitt|10th Edition| Chapter number:7| Question number:7.24

Ibrahimhamm

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2022-06-29

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If the financial reporting risks for a location are low and the entity has good entity-level controls, management may rely on which of the following for its assessment?

Documentation and test controls over specific risks.
Self-assessment processes in conjunction with entity-level controls.
Documentation and test entity-level controls over the entire entity
Selective control test at that location.

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Ibrahimhamm

2022-06-29

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B. Self-assessment processes in conjunction with entity-level controls.

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