Which of the following refer(s) to the audit procedures designed to evaluate the operating effectiveness of controls in preventing, or detecting and correcting, material misstatements at the assertion level?
A)Tests of controls
B)Financial auditing
C)External controls
D)Transaction-level controls

Question

Quizplus · Accepted Answer

Tests of controls are specifically designed to evaluate the operating effectiveness of controls in preventing, or detecting and correcting, material misstatements at the assertion level. Financial auditing refers to the overall process of auditing financial statements, which includes tests of controls but is not specific to them. External controls and transaction-level controls are not relevant to this question.

Which of the Following Refer(s) to the Audit Procedures Designed