Test of controls to be performed when auditor finds RMM at assertion level… so if there is RMM at financial statement level, no Test of controls required? Or is it in the way that assertions will ultimately cover whole of financial statements and thereby control checking at assertion level will serve the purpose for whole of financial statements.?

Questions › Category: SA-330 › Test of controls to be performed when auditor finds RMM at assertion level… so if there is RMM at financial statement level, no Test of controls required? Or is it in the way that assertions will ultimately cover whole of financial statements and thereby control checking at assertion level will serve the purpose for whole of financial statements.?

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Jasmine Kaur asked 7 years ago

Question Tags: Test of controls

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Ravi Staff answered 7 years ago

if there is risk at financial statement level we give overall response– bigger team, more seniors & experts, more prof skepticism, more surprise checks, improving application of test of controls and substantive procedures.

so for financial statement level risk there may not be specific test of controls but effects test of controls which we are going to perform and overall audit procedures.