Canadian Auditing Standards (CASs)require That an Audit Be Conducted Using

question 33

Multiple Choice

Canadian Auditing Standards (CASs) require that an audit be conducted using

• A)a controls-testing approach.
• B)a risk-assessment approach.
• C)a substantive approach.
• D)a standard approach.

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Definitions:

Sales Taxes

Taxes imposed on sales of goods and services, usually calculated as a percentage of the sale price and collected by the retailer at the point of purchase.

TANF Benefits

Temporary Assistance for Needy Families (TANF) benefits are government aid provided to families in need to help with their living expenses.

Federal Poverty Line

A government-determined threshold based on income, used to identify individuals and households that are considered living in poverty for the purpose of eligibility for certain assistance programs.

Welfare Policies

Governmental provisions aimed at ensuring the well-being of citizens, particularly those in need, through services such as healthcare, education, and financial assistance.