Knowledge of both general and application controls is crucial for auditors in understanding how accounting information is recorded and reported.

Question

Quizplus · Accepted Answer

Knowledge of both general and application controls helps auditors assess the reliability and validity of the accounting information system, and identify any control weaknesses or potential fraud risks. Therefore, it is crucial for auditors to have a good understanding of both types of controls.

Knowledge of Both General and Application Controls Is Crucial for Auditors