Do we apply "test of controls" during risk assessment procedures or at the time of further audit procedures? As per ICAI they are applied during Further Audit Procedures but then how do we know "control risk" at the time of risk assessment procedures if we don't apply "test of controls" initially. I hope I was able to communicate my question properly to you, if not let me know I'll add further details thanks.
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Test of controls are done during risk assessment procedure or during Further audit procedures?
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Risk assessment procedures are basically to understand the control environment and not the controls. they are just over all understanding of what entity is doing, how is the control environment, whether there is any monitoring over the control, if they need some analytical procedure etc.
however test of controls is done so that we can decide on how much test of details is to be performed
however test of controls is done so that we can decide on how much test of details is to be performed
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