Which of the following is most likely to be considered a risk assessment procedure relating to internal control?
A)Confirm accounts receivable.
B)Perform a test of a control relating to payroll.
C)Take test counts of the year-end inventory.
D)Trace a transaction through the information system relevant to financial reporting.

Question

Quizplus · Accepted Answer

Tracing a transaction through the information system relevant to financial reporting helps in understanding and assessing the effectiveness of internal controls, making it a risk assessment procedure.

Which of the Following Is Most Likely to Be Considered