When conducting detailed substantive procedures,auditors search for evidence that:
A)all transactions have been recorded in the accounts
B)no fraud has occurred during the year
C)the client's internal control system is operating effectively
D)they have remained independent of their clients

Question

Quizplus · Accepted Answer

Detailed substantive procedures are conducted to obtain sufficient and appropriate evidence about the completeness, accuracy, and validity of transactions and account balances. Therefore, the primary objective of these procedures is to verify that all transactions have been recorded in the accounts. Option B is incorrect because detecting fraud is not the primary objective of substantive procedures. Option C is incorrect because assessing the effectiveness of internal controls is the objective of tests of controls. Option D is irrelevant to the objective of substantive procedures.

When Conducting Detailed Substantive Procedures,auditors Search for Evidence That