If audit tests are performed at an interim date, supplemental audit evidence:
A) is not necessary because the same controls are assumed to be in place that resulted in the balances tested during interim.
B) is still needed regarding the account balances between the interim testing date and the end of the fiscal year.
C) is obtained from the predecessor auditor, when needed to corroborate any changes in the client's ICFR systems.
D) is the responsibility of the audit committee, as it would be inefficient for the auditors to focus on a single audit area during multiple time periods.

Question

Quizplus · Accepted Answer

Supplemental audit evidence is still needed to cover the period between the interim testing date and the end of the fiscal year. The risk of material misstatement may have changed during this period, and the auditor needs to gather appropriate evidence to support the account balances at the end of the fiscal year. Therefore, the auditor cannot entirely rely on the controls assumed to be in place during interim testing.

If Audit Tests Are Performed at an Interim Date, Supplemental