For high-risk accounts, the timing of most audit procedurwill be:
A) whenever the client says it is most convenient for them to be conducted.
B) at, or after, year-end.
C) before year end.
D) during the interim audit testing stage.

Question

Quizplus · Accepted Answer

For high-risk accounts, it is important to conduct audit procedures at or after year-end to ensure that all significant transactions and activities have been captured and reflected in the financial statements. Conducting the audit before year-end may result in missing important transactions that occur later in the year, while conducting it during the interim testing stage may not provide enough evidence to support the auditor's conclusions. Conducting the audit when it is most convenient for the client may also compromise the independence and objectivity of the auditor.

For High-Risk Accounts, the Timing of Most Audit Procedurwill Be