The first step in substantive testing is assessing internal control.

Name: The first step in substantive testing is assessing internal control.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Assessing internal control is an important step in the process of substantive testing because it allows the auditor to understand the system of controls in place and identify any weaknesses or deficiencies that may impact the accuracy and completeness of financial statements.

The First Step in Substantive Testing Is Assessing Internal Control