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:

Psychosexual Feelings

Emotions and impulses related to the various stages of psychological and sexual development theorized by Sigmund Freud.

Latency

The period of time between a stimulus and the response or reaction to that stimulus, often used in discussions of networks or psychological response times.

Perspective Taking

The ability to understand a situation or concept from an alternative point of view, including others' thoughts, feelings, and motivations.

Self-Esteem

The sense of value or worth that people attach to themselves.