Audit and Assurance Services

Business

Quiz 11 :

Designing Substantive Procedures

Quiz 11 :

Designing Substantive Procedures

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Which of these is not normally a distinct phase involved in using generalised audit software?
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A

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If the predominantly substantive approach preliminary audit strategy is used, the planned level of substantive procedures will be:
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C

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For small clients, it is often more efficient to adopt the predominantly substantive approach.Which of the following is a reason for this?
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D

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Tests of details of transactions generally use evidence from:
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Which of these would not necessarily be considered to be a risk factor for potential misstatements?
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If the lower assessed level of control risk approach preliminary audit strategy is used, planned detection risk will be:
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Which of these is not compatible with a high level of inherent and control risk?
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Which of these would be a reason for adopting a predominantly substantive approach?
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Tests of details of transactions primarily involve:
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The least costly form of testing is usually:
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Which of these would not be considered to be a test of details of balances?
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Which of these is not considered a substantive procedure?
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Tests of details of balances focus on obtaining evidence:
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If the predominantly substantive approach preliminary audit strategy is used, planned detection risk will be:
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The auditor is performing substantive procedures several months before the end of the year.This most likely means that:
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If the lower assessed level of control risk approach preliminary audit strategy is used, the planned level of substantive procedures will be:
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Extensive tests of details for an income statement account is least likely to be required when:
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For a particular account balance assertion, the auditor is most likely to be able to avoid substantive tests of details with which of these sets of risk assessments? img
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Confirmation and direct knowledge by the auditor are most associated with:
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The auditor would be least likely to perform early substantive tests of details of balances when:
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