In the Substantive Approach, If There Is an Internal Control

question 153

Multiple Choice

In the substantive approach, if there is an internal control in place, the auditors may _______.

• A)test the effectiveness of the internal control
• B)issue a qualified opinion
• C)assess all procedures in the audit as having high audit risk
• D)withdraw from the audit

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Definitions:

Customer Benefit Approach

A sales strategy focusing on communicating the advantages and positive outcomes that a customer will gain from a product or service.

Referral

The act of recommending a product, service, or company to someone else, often based on personal experience.

Complimentary

Expressing a polite or flattering comment towards someone or something, or items given for free in connection with a purchase or promotional activity.