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Explain the key differences between the two approaches

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Question - You are the audit manager planning for an audit. One of your new auditors would like to understand the difference between the Combined Audit Approach and the Substantive Audit Approach. To help her understand, explain the key differences between the two approaches considering: Control risk, control testing and amount of substantive testing required. Could you help me solve this problem by words?

Reference no: EM132608488

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