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What is the difference between ofsl and ir

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Reference no: EM132864644

Questions -

Q1. If an auditor decided not to test controls on the audit, what impact would this have on Audit Risk?

Q2. What is the difference between OFSL and IR?

Q3. Imagine you are auditing Starbucks. Is it easier to determine if revenue occurred or if revenue is complete? Why?

Q4. Imagine a world where publicly traded companies did not require audits. What might be one benefit of this situation? Explain

Q5. What is one similarity between OM and SM? Explain.

Reference no: EM132864644

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What is the difference between ofsl and ir : What is the difference between OFSL and IR? If an auditor decided not to test controls on the audit, what impact would this have on Audit Risk
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