What would your control risk assessment be, Accounting Basics

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What would your control risk assessment be

Assignment task:

Read the Tradeoffs in Audit Testing (PDF)

What would your Control Risk (CR) assessment be with respect to the existence assertion? Provide support for your answer. Hint: To answer this question, calculate the total audit hours under each of the four CR assessment levels and choose the level that utilizes the fewest total audit hours. (Assume that hourly billing rates are the same for all tests of control, substantive tests of details, and all other audit procedures.) Show your calculations.

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Accounting Basics: What would your control risk assessment be

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Accounting Basics: What would your control risk assessment be

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