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Inherent Risk, Tests of Controls, and Substantive Procedures
nherent Risk, Tests of Controls, and Substantive Procedures
Overview
In this assignment, you will prepare a 2–3 page professional document that addresses the requirements specified in the case. Fully address each requirement and include at least two current references to scholarly and/or authoritative sources.
Instructions
Specifically you will be required to:
- Calculate the required ratios for all given years.
- Identify and explain high inherent risk assertions.
- Analyze and draw conclusions about the nature and extent of tests of controls.
- Analyze and draw conclusions about the nature, timing, and extent of substantive procedures.
- Use at least two current, quality academic or authoritative sources in this assignment. Note: Wikipedia and similar websites do not qualify as quality scholarly and/or authoritative sources. Use the Strayer University Library to conduct your research.