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(s):
A) realisable value
B) rights and obligations
C) both A and B
D) none of the above

Question

Quizplus · Accepted Answer

Substantive tests of balances are used to verify the completeness and accuracy of balance sheet accounts, including realizable value and rights and obligations. Therefore, the auditor will rely primarily on such tests to meet these two balance-related audit objectives.

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