Management Notes

Reference Notes for Management

In an audit of financial statements, substantive tests are audit procedures that __

In an audit of financial statements, substantive tests are audit procedures that __

In an audit of financial statements, substantive tests are audit procedures that __

 Options:

a) may be eliminated for an account balance under certain conditions
b) are designed to discover significant subsequent events
c) will increase proportionately when the auditor decreases the assessed level of control risk
d) may be test of transactions, test of balance and analytical procedures

The Correct Answer Is:

d) may be test of transactions, test of balance and analytical procedures

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