acct401 auditing principles and procedures assignment 1

1- What are the types of audit report opinions? When should an auditor issue each report?

2- What is the importance of Auditor’s Risk Assessment process? Detail your answer.

3- What is the difference between substantive analytical procedures and test of details? Detail your answer.

4- Discuss how does internal control assessment affects audit risk model?

IMPORTANT NOTE: Answer in your own words.

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