New Staff Training - D4

If you are testing the monthly control, what is the minimum number of items you will need to test based on GAM Sample 3.3

• 1

• 5

• 2

• 4

Inquiry alone is suffficient to test the operating effectiveness of controls?

• YES

• NO

What EY tool assists us in determining a sample size when performing test of details?

• EY Atlas

• Canvas

• EY Random

• EY Smart sampling

What type of audit procedures should you likely first consider when substantively testing an account balance with no fraud or significant risk (excluding cash)?

Test of Details

• Confirmation procedures

• Substantive Analytical Procedures

• Inspection of source documentation for a sample of selections

• Recalculation of reconciliations

• Inspection and testin of reconciliations

Can you simply inquire of a control owner if he or she performed a control on a given day?

• YES

• NO