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TEST OF CONTROL

By: AUVENGERS

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Test of control

To determine whether these internal controls are sufficient to detect or prevent risks of material misstatements. 

Ensure that financial statements are accurate and reliable.

Performed by auditors to assess the effectiveness of an organization's internal controls. An essential part of the audit process, and help auditors gain confidence in the control environment.

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Test of control

To determine whether these internal controls are sufficient to detect or prevent risks of material misstatements. 

Ensure that financial statements are accurate and reliable.

Evidence :

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  • Make inquiries of appropriate client personnel.
  • Examine documents, records, and reports.
  • observe control-related activities.
  • Reperform client procedures.

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Application Test of Control in Auditing

Understanding the internal control environment

Identifying key controls

Selecting the sample

Assessing control risk

Evidence :

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  • Make inquiries of appropriate client personnel.
  • Examine documents, records, and reports.
  • observe control-related activities.
  • Reperform client procedures.

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Application Test of Control in Auditing

Identifying key controls

Understanding the internal control environment

Documenting the results

Performing the control test

Evaluating the results

Assessing control risk

Selecting the sample

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Application Test of Control in Auditing

Forming an audit opinion

Assessing control risk

Adjusting audit procedures

Performing the control test

Evaluating the results

Documenting the results

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