Which of the following is not a basic approach often used by auditors to evaluate the reasonableness of accounting estimates?
A) Confirmation of amounts.
B) Review of management's process of development.
C) Independent development of an estimate.
D) Review of subsequent events.

Question

Quizplus · Accepted Answer

Confirmation of amounts is not a basic approach used by auditors to evaluate the reasonableness of accounting estimates. The other options listed (review of management's process of development, independent development of an estimate, and review of subsequent events) are all commonly used by auditors.

Which of the Following Is Not a Basic Approach Often