Long-term debt can be audited without testing controls.

Name: Long-term debt can be audited without testing controls.
Brand: Quizplus
Rating: 4.8 (37 reviews)

Question

Quizplus · Accepted Answer

Auditing long-term debt typically involves assessing the effectiveness of internal controls over the reporting and management of such debt. Without testing these controls, an auditor cannot fully assess the risk of material misstatement and ensure the accuracy of the reported long-term debt figures.

Long-Term Debt Can Be Audited Without Testing Controls