Inquiries of clients and reperformance normally have a low cost to perform.

Question

Quizplus · Accepted Answer

Inquiries of clients and reperformance are typically low-cost procedures that auditors can use to gather evidence and support their audit findings. Inquiries involve asking questions of clients or other third parties, while reperformance involves testing a client's processes or controls to verify their effectiveness. These procedures can help auditors identify risks and potential areas of material misstatement without requiring significant time or resources.

Inquiries of Clients and Reperformance Normally Have a Low Cost