Question Details

Analytical procedures provide fewer types of evidence 



1. (Public)
	In the audit of a public company, computer controls must be tested if they are considered to be key controls for reducing the likelihood of material misstatements in the financial statements.
a.	True
b.	False

2.

	Procedures to obtain an understanding of internal control may suffice for tests of controls when the auditor is assessing automated controls.
a.	True
b.	False

3.
	Analytical procedures are normally designed at the account level, whereas tests of controls and substantive tests of transactions are normally designed at the transaction-related objective level.
a.	True
b.	False

4.
	Procedures to obtain an understanding of internal control may suffice for tests of controls when the auditor is assessing control risk in a well defined transaction cycle that has not contained material misstatements in prior audits.
a.	True
b.	False

5.
	Analytical procedures provide fewer types of evidence than any other type of audit test.
a.	True
b.	False



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