1. No (Yes / No)
2. Create your own reason by understanding these two things.
> Substantive procedures: are performed in order to detect material misstatements at the assertion level, and include tests of details of classes of transactions, account balances and disclosures and substantive analytical procedures. The auditor plans and performs substantive procedures to be responsive to the related assessment of the risk of material misstatement.
> Internal Control: is the process designed and effected by those charged with governance, management, and other personnel to provide reasonable assurance about the achievement of the entity’s objectives with regard to reliability of financial reporting, effectiveness and efficiency of operations and compliance with applicable laws and regulations. It follows that internal control is designed and implemented to address identified business risks that threaten the achievement of any of these
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