If the Auditor Is Performing Substantive Tests at an Interim

question 58

Multiple Choice

If the auditor is performing substantive tests at an interim date, _______.

• A)the auditor does not need to perform year-end testing procedures
• B)the auditor must perform steps to update their conclusion to the date of the financial statements
• C)the auditor must perform steps to update their conclusion for the next fiscal year of the firm
• D)this procedure should first be approved by management due to the extra cost involved

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Definitions:

Artifacts

Objects made or used by humans, typically of historical or cultural interest, including tools, pottery, and artwork.

Expedition

A journey or voyage undertaken by a group of people with a particular purpose, especially that of exploration, research, or war.

Submersibles

Underwater vehicles designed for exploration or research, capable of operating beneath the sea surface.

Sodas

Carbonated soft drinks that are sweetened, flavored, and often colored, known for their effervescent quality.