Q. Knowledge of the entity’s business does not help the auditor to (Solved)
1. Reduce inherent risk
2. Identify problem areas
3. Evaluate reasonableness of estimates
4. Evaluate appropriates of GAAP.
- a. Reduce inherent risk
1. Reduce inherent risk
2. Identify problem areas
3. Evaluate reasonableness of estimates
4. Evaluate appropriates of GAAP.