What form of internal control documentation will an auditor likely use when they are not personally familiar with the industry they are auditing? O combination of narratives and flowcharts narratives O preformatted questionnaire O flowcharts

Plz explain in detail

When a substantive audit strategy is adopted, an auditor will O determine internal controls are effective in mitigating risks. O increase the amount of their substantive testing. O test controls extensively. O not need to document the internal control system.

Obtaining an understanding of the internal control structure is required for first time audit client, but not necessary for recurring clients.  TRUE OR FALSE? WHY?

Financial audit Q&A What is the process used by auditors in conducting tests of control in testing documents and supporting control files?

Financial audit Q&A What risks that may occur during assertion testing, but cannot be prevented due to the lack of time? What reports that need to be prepared to find out if there are significant changes in the client? What is the parties reported by the auditor that are related to the results of the audit reports made? What terms that must be included in the document prepared by the client? What is the inspection activities to ensure the shipping or Destination Point in the recording of the financial statements is correct in accordance with the fragments? The auditor needs to know that the ending balance recorded in the financial statements is appropriate based on evidence of transactions in the company. What is the audit assertion underlying the vouching procedure? What is the audit assertion underlying the tracing procedure? What is the risk that caused by the sample taken by the Auditor does not describe the characteristics of the data from the entire data population?…

Documentation of an Audit Data Analytic (ADA), should be sufficient enough such that: O An experienced auditor, with no prior connection to the engagement could understand the conclusions reached and significant judgments made An experienced auditor, who is familiar with the engagement could understand the conclusions reached and significant judgments made O An investor looking into the company could understand the conclusions reached and significant judgments made O Both "An investor looking into the company could understand the conclusions reached and significant judgments made" and "An experienced auditor, with no prior connection to the engagement could understand the conclusions reached and significant judgments made" are correct

Explain why many people think of internal auditors as theprimary group responsible for conducting operational audits

1. Please answer ASAP!!

A document created by the organization and requested from the organization by an internal auditor would provide what level of reliability? A) High B Medium C Low D) Absolute