You're examples made it soo easy for me to understand. Thank you 🙏
@Noma3724 ай бұрын
Thank you for this video, it has really shined a bright light in my studies. Highly appreciated.🤝🙃
@MaxwellCPAreview3 ай бұрын
That's so nice of you! Thank you.
@gm83628 күн бұрын
I appreciate these explanations (by far the best I have heard on yt) so much. Thank you.
@kenhamroaladdin9212Ай бұрын
Nice metaphor with stakes 🥩and fries 🍟
@MaxwellCPAreviewАй бұрын
Thanks so much, I hope that simplified the concept a little bit!
@hassan-zz2wp Жыл бұрын
Well explained
@ElleGeewhiz14 күн бұрын
Great content, just need to slow down a little! Need time for it to sink in
@connorbraun5670 Жыл бұрын
This was a very helpful video! One question I have is if you have a high control risk, but a low inherent risk or vice versa what does that do to substantive testing? I have had a simulation on a situation like this and I don't understand what happens to substantive testing if the RMM offsets each other. I'm hoping you can help, thank you!
@HanYukiii Жыл бұрын
If the control risk is high (weak internal control)you wouldn't be relying on the controls. Since you won't be relying on the controls, you will have to do more substantive testing. Even if the inherent risk is low, I can't imagine an auditor doing less work because of this. I could be wrong though so anyone can correct me.
@vyskob11 ай бұрын
@@HanYukiiilevel of risk associated with control itself doesn’t mean “weak internal control”. If control designed, implemented and operating effectively, you can rely on it