Which of the following best describes the concept of key item testing?
A) the selection of items that are grouped together within the population of items available
B) the proportion of items tested that did not conform to the client's prescribed control procedure
C) focus is on selecting the largest transactions within a balance to obtain coverage of the total
D) the selection of items that an auditor believes should be included in the sample for testing

Question

Quizplus · Accepted Answer

Key item testing typically involves focusing on selecting the largest transactions within a balance to ensure significant coverage of the total amount being audited. This approach helps in efficiently assessing the accuracy and integrity of financial statements.

Which of the Following Best Describes the Concept of Key