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When the auditor obtains audit evidence about the operating effectiveness of controls during an interim period?29. Using Audit Evidence Obtained during an Interim Period. When the auditor obtains evidence about the operating effectiveness of controls as of or through an interim date, he or she should determine what additional evidence is necessary concerning the operation of the controls for the remaining period of reliance.
Which of the following situations would most likely preclude an auditor from performing substantive procedures during an interim period?Which of the following situations would most likely preclude an auditor from performing substantive procedures during an interim period? Internal controls are weak and the risk of material misstatement is high.
Under which circumstance is it likely that the extent of substantive procedures will be expanded beyond that anticipated in the audit plan?Under which circumstance is it likely that the extent of substantive procedures will be expanded beyond that anticipated in the audit plan? The auditors have determined that controls have been implemented (placed in operation) but, in accordance with the audit plan, have performed no tests of controls.
Which of the following risk types increase when an auditor performs substantive analytical audit procedures for financial statement accounts at an interim date?Decide that audit risk can be 40 percent. tests. Which of the following risk types increase when an auditor performs substantive analytical audit procedures for financial statement accounts at an interim date? Sampling.
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What will happen if an auditor performs substantive procedures at interim date without undertaking additional procedures at a later date?
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