An auditor is least likely to test the internal controls that provide for:
A)approval of the purchase and sale of marketable securities.
B)vouching a sample of sales transactions to make sure each one has an accompanying shipping document.
C)segregation of the functions of recording disbursements and reconciling the bank account.
D)comparison of receiving reports and vendors' invoices with purchase orders.

Question

Quizplus · Accepted Answer

The auditor is least likely to test the internal controls related to vouching a sample of sales transactions to ensure each one has an accompanying shipping document. This is because it primarily deals with the sales function rather than internal controls related to financial reporting. The other options listed are all related to internal controls that are important for financial reporting and are typically tested by auditors.

An Auditor Is Least Likely to Test the Internal Controls