Auditor's Selection of Specific Items Quiz

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Which type of audit procedure is designed to evaluate the operating effectiveness of controls in preventing or detecting material misstatements?

Substantive procedures

Tests of details

Substantive analytical procedures

Tests of controls (correct)

What type of audit evidence may provide information about the existence and valuation of receivables after the period end?

Substantive procedures (correct)

Written representations

Tests of details

Tests of controls

Which audit evidence is NOT necessarily related to the cutoff assertion?

Evidence related to tests of controls (correct)

Evidence from different sources but relevant to the same assertion

Evidence related to existence and valuation

Evidence related to substantive procedures

Identifying conditions that indicate performance of a control and deviation conditions that indicate departures from adequate performance is part of which audit procedure?

Tests of controls Signup and view all the answers

What is the purpose of substantive procedures in an audit?

To detect material misstatements at the assertion level Signup and view all the answers

Which type of procedure includes tests of details and substantive analytical procedures?

Substantive procedures Signup and view all the answers

What does audit evidence from different sources or of a different nature often have relevance to?

The same assertion Signup and view all the answers

'Designing tests of controls to obtain relevant audit evidence' involves identifying conditions that indicate what?

'Performance of a control' Signup and view all the answers

What do substantive procedures aim to detect during an audit?

Material misstatements at the assertion level Signup and view all the answers

What do tests of details and substantive analytical procedures comprise as part of an audit?

Substantive procedures Signup and view all the answers

Auditor's Selection of Specific Items Quiz

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Questions and Answers

Which type of audit procedure is designed to evaluate the operating effectiveness of controls in preventing or detecting material misstatements?

What type of audit evidence may provide information about the existence and valuation of receivables after the period end?

Which audit evidence is NOT necessarily related to the cutoff assertion?

Identifying conditions that indicate performance of a control and deviation conditions that indicate departures from adequate performance is part of which audit procedure?

What is the purpose of substantive procedures in an audit?

Which type of procedure includes tests of details and substantive analytical procedures?

What does audit evidence from different sources or of a different nature often have relevance to?

'Designing tests of controls to obtain relevant audit evidence' involves identifying conditions that indicate what?

What do substantive procedures aim to detect during an audit?

What do tests of details and substantive analytical procedures comprise as part of an audit?

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