In an audit of a large public company, is it likely that an auditor will always assess control risk below maximum? Explain your answer. What two conditions must be present for an auditor of a non-public company to assess control risk below the maximum level? There is significant overlap between tests of control and procedures to obtain an understanding of ternal control. Explain, in one or two sentences, ONE primary difference in the application of ese procedures (i.e., how are the procedures different?).
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