The auditor has determined that, as the assessment of control risk is high, the audit strategy adopted will be the predominantly substantive approach. What is the cost of this audit likely to be?
A) low.
B) moderate.
C) high.
D) cannot be determined.

Question

Quizplus · Accepted Answer

When the assessment of control risk is high, auditors tend to adopt a predominantly substantive approach, which involves more detailed testing of transactions and balances. This approach is generally more time-consuming and labor-intensive, leading to higher audit costs.

The Auditor Has Determined That, as the Assessment of Control