A limitation of an audit is caused by
A)the need for the audit to be conducted within a reasonable period of time and at a reasonable cost.
B)the nature of audit procedures.
C)the nature of financial reporting.
D)all of the above.

Question

Quizplus · Accepted Answer

The limitations of an audit are caused by various factors, including the need for the audit to be conducted within a reasonable period of time and at a reasonable cost, the nature of audit procedures, and the nature of financial reporting. These limitations can affect the extent to which an audit can provide reasonable assurance regarding the accuracy and completeness of the financial statements. Therefore, all of the above factors contribute to the limitations of an audit.

A Limitation of an Audit Is Caused by