Objectives
• List how the nature, timing, and extent of planned audit procedures can (and should) vary commensurate with assessed risk of material misstatement
• Explain common deficiencies in performing and documenting further audit procedures, including tests of details
• Recall tips for strengthening the design, documentation and evaluation of substantive analytic procedures
• Recognize how to properly satisfy the requirement to evaluate and communicate internal control matters noted during the course the financial statement audit