Acronyms
Nature, Extent, Timing
What is NET?
Inquiry, inspection, observation
What are the three methods of testing design?
Risk Associated With Control
What is RAWC?
Reperformance, inspection, inquiry, observation
What are the four methods to test operating effectiveness?
Risk of Material Misstatement
What is RoMM?
Lower, higher, significant
What are the three level of RoMM
Operating Effectiveness
What is OE?
Higher, not higher
What are the two risk levels for RAWC?
Test of Details
What is ToD?
Testing throughout the entire year
What is apportionment?