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Three Factors the Auditor Considers When Assessing Control Risk Are

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Essay

Three factors the auditor considers when assessing control risk are: the auditor's belief concerning the effectiveness of internal controls, the results of tests of controls, and the cost-effectiveness of a reduced assessed control risk.Identify the combination of conditions for these three factors that is required before a reduction in substantive testing is permitted.


Definitions:

Effective Teams

Groups of people who work together in a highly organized and competent way towards a common goal.

Characteristics

Attributes or features that define or distinguish an individual, object, or phenomenon from others.

Dominance

The state or condition of having authority or control over others, often characterized by superiority or preeminence in a certain context.

Sexual Interest

The degree of attraction or arousal a person feels towards others, which can vary widely among individuals.

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