Question Details

Auditing standards require that tests of controls be performed 



1.
	The auditor must communicate significant deficiencies in internal control only after the entire audit is complete to ensure the auditor has a sufficient understanding of the circumstances surrounding the deficiency.
a.	True
b.	False

2.
	The results of tests of controls and tests of details of balances affect the design of substantive tests of transactions.
a.	True
b.	False

3.
	If the auditor- preliminary assessment of control risk is decreased from high to medium, tests of controls can be reduced.
a.	True
b.	False

4.
	When testing details of balances, most audit procedures satisfy only one balance-related objective, but more than one audit procedure should be used to test each objective.
a.	True
b.	False

5. 	Substantive tests of transactions and substantive tests of details of balances are often conducted simultaneously.
a.	True
b.	False

6.
	Auditing standards require that tests of controls be performed on every audit engagement.
a.	True
b.	False




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