Podcast
Questions and Answers
Which type of audit procedure is designed to evaluate the operating effectiveness of controls in preventing or detecting material misstatements?
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?
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?
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?
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?
What is the purpose of substantive procedures in an audit?
Which type of procedure includes tests of details and substantive analytical procedures?
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?
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?
'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 substantive procedures aim to detect during an audit?
What do tests of details and substantive analytical procedures comprise as part of an audit?
What do tests of details and substantive analytical procedures comprise as part of an audit?
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