With a Substantive Audit Strategy,what Is an Auditor Likely to Do

question 34

Multiple Choice

With a substantive audit strategy,what is an auditor likely to do?

• A)Extensively tests internal controls.
• B)Limit the testing of internal controls.
• C)Not assess control risks.
• D)Issue an adverse opinion on the financial statements.

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Definitions:

Domestic Relationships

Relationships defined by family ties or living arrangements, including marriage, partnership, and familial connections.

Legal Presumption

A rule that requires a court or tribunal to assume a fact is true until it is disproven by evidence to the contrary.

Commercial Arrangements

Agreements or transactions between businesses or entities that are commercial in nature, often involving the exchange of goods or services.

Mental Incapacity

A state where an individual is unable to understand the nature and consequences of their actions, affecting their ability to enter legal agreements or make decisions.