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Which of the following describes IC evaluation questionnaires ?
Its definitely a control objective but no answer implies a good IC, how?
WHich of the following risks can the audit affect in the short term?
Audit risk and detection risk?
can u explain me howA control objective could be: No overtime to be paid without authorisation
ICEQ: Can unauthorised OT be paid?
A ‘No’ answer is what you want.
Audit risk = Inherent risk x Control risk x Detection risk.
The auditor cannot affect inherent risk and control risk in the short term, but can affect detection risk by, for example, doing more audit work.
If detection risk changes the audit risk must change because detection risk is part of the equation above.
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