Q. The sequence of steps in the auditor’s consideration of internal control is asfollows – (Solved)
1. Obtain an understanding, design substantive test, perform tests of control, and make a preliminary assessment of control risk
2. Design substantive tests, obtain an understanding, perform tests of control, and make a preliminary assessment of control risk
3. Obtain an understanding, make a preliminary assessment of control risk, perform tests of control, design substantive procedures.
4. Perform tests of control, obtain and understanding, make a preliminary assessment of control risk, design
- c. Obtain an understanding, make a preliminary assessment of control risk, perform tests of control, design substantive procedures.