With respect to timing, tests of controls _______.
A)are usually carried out after the firm's financial statement date
B)are usually carried at the firm's financial statement date
C)will usually be carried out at an interim date, often about three months prior to year-end
D)will usually be carried out at an interim date, often about six months prior to year-end

Question

Quizplus · Accepted Answer

Tests of controls are usually carried out at interim dates, often about three months prior to year-end to allow sufficient time for any necessary remedial action to be taken before year-end. This is to ensure that the financial statements are free from material misstatements.

With Respect to Timing, Tests of Controls _______