Even when all transaction-related audit objectives are met, the auditor will still rely primarily on substantive tests of balances to meet the following balance-related audit objective:
A) realisable value
B) presentations and disclosure
C) rights and obligations
D) A and C

Question

Quizplus · Accepted Answer

When all transaction-related audit objectives are met, the auditor will primarily rely on substantive tests of balances to meet the balance-related audit objectives of realisable value and rights and obligations. Presentations and disclosures are more closely related to transaction-related audit objectives. Therefore, the best choice is D, which includes both realisable value and rights and obligations.

Even When All Transaction-Related Audit Objectives Are Met, the Auditor