Document1-Microualt Wod age Layout References Mallings Review View 12 ” ||1Norma

Question

Document1-Microualt Wod age Layout References Mallings Review View 12 ” ||1Normal!!NoSpacL.neading 1 Pleading 2 ? Ine Subtitle Subtie te.. What procedure has to be completed at or affter the end of the period? a Propose the adjusting journals to the clients Engagement letter dently snificent controls Evalustion of unaudted financial statements b Which of the following is a factor that would cause an increase in the assessment of coetrol risk aThe client operates in a very competitive environmest ? [b The client bas branches in multiple counties The sock marknt is going dows signicasty The warehouse of the client s sot guar dod Ia which of the tollowing situations mury auditors decide to not perform sests of controls? a The company has been founded for oaly a mouth and bas only bad 3 transactions This is a controls reliance audit c.This is an integrated audit d If the controls aze suficient so redace control risk to an acceptable level and testing the b controls would makn the audit more cost efficient 0 8

Explanation / Answer

Ans to Question 1 :

Correct option is A (Proposing the adjusting journals to the client)

Ans to Question 2:

Correct option is D (The warehouse of the client is not guarded)

Ans to Question 3:

Correct option is A. (The company had founded for only a month and has only 3 transactions.

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