Internal control testing is typically done
A)at the end of the year
B)after the completion of the year with the financial statements
C)at the beginning of the year
D)during the time for interim fieldwork

Question

Quizplus · Accepted Answer

Internal control testing is typically done during the time for interim fieldwork, which is a period of time during the audit where auditors perform testing of controls and substantive procedures for transactions that have occurred since the prior year-end. This allows auditors to assess the effectiveness of the entity's internal controls over financial reporting and identify any potential weaknesses or issues that need to be addressed.

Internal Control Testing Is Typically Done