The auditor faces a risk that the audit will not detect material misstatements that occur in the accounting process.In regard to minimising this risk, the auditor primarily relies on:
A)substantive tests.
B)tests of controls.
C)internal control.
D)statistical analysis.

Question

Quizplus · Accepted Answer

Substantive tests are designed to detect material misstatements in the financial statements, thus helping the auditor to minimize the risk of not detecting such misstatements.

The Auditor Faces a Risk That the Audit Will Not