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UNIT 2 LESSON 4 - Coggle Diagram
UNIT 2 LESSON 4
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Example of weakness
The head chef is responsible for ordering all the seafood, and there is no separate purchasing department or buyer
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Substantive procedures
Timing and extent of testing:
- Most substantive testing takes place at or after year-end.
- the greater the risk of material misstatement, and the less effective the controls appear to be, the greater the amount of substantive testing.