Answer each of the following:
1 Control risk has been assessed as high and detection risk is low. What is the timing of the substantive procedures likely to be?
2 The auditor has decided that they will use a larger sample for confirmations at year end. What is the level of detection risk?
3 Control risk has been assessed as low and detection risk is high. What type of substantive procedures are the auditors more likely to use?
4 Control risk has been assessed as low and detection risk is high. What size sample are the auditors more likely to use?
5 The auditor has decided that they will do more tests of details of balances and use larger samples. What is the likely level of control risk?
6 The auditor has been comparing the customer closing balances with the balance in the control account for a large sample of customers at year end. What is the level of control risk and detection risk?