Jocelyne Yu is performing procedurand has decided to vouch the balance in the fixed assets ledger of a furniture manufacturing company back to supporting documentation. She is performing a
A) test of details.
B) test of controls.
C) risk assessment.
D) none of the above.

Question

Quizplus · Accepted Answer

Jocelyne Yu is performing a test of details as she is verifying the balance in the fixed assets ledger with supporting documentation. A test of details involves verifying the accuracy of individual transactions or account balances with supporting documentation. Test of controls involves testing the effectiveness of internal controls to prevent or detect errors or fraud. Risk assessment involves identifying and assessing the risks of material misstatement in the financial statements. None of the above is not applicable here as Jocelyne Yu is performing a specific audit procedure.

Jocelyne Yu Is Performing Procedurand Has Decided to Vouch the Balance