Reference no: EM132779748

Problem 1: The auditor has assessed control risk as high. Which of the following is not true?

Select one:

Option 1: A predominantly substantive approach will be used.

Option 2: The auditor is not placing reliance on the internal controls.

Option 3: The extent of substantive procedures will result in a costly audit.

Option 4: The auditor will conduct extensive tests of controls.

Problem 2: Testing the work of the internal auditors is least likely when the external auditor has decided that:

Select one:

Option 1: the internal auditors are full-time employees of the client.

Option 2: the internal auditors have operating responsibilities as well as their auditing role.

Option 3: the internal auditors will be used to directly assist in the conduct of the audit.

Option 4: the reports of the internal auditors are consistent with the results of the work performed.