Which one of the following audit tests is usually the LEAST costly to perform?
A) Analytical procedures
B) Tests of balances
C) Tests of controls
D) Substantive tests of transactions

Question

Quizplus · Accepted Answer

Analytical procedures involve analyzing relationships between financial data and can often be performed using software or other tools, making them less costly than other types of audit tests such as tests of balances, tests of controls, and substantive tests of transactions, which may require more time and resources.

Which One of the Following Audit Tests Is Usually the LEAST