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.

---

Definitions:

Accelerate Receipt

Accelerate Receipt refers to the process of speeding up the collection or receipt of funds, often related to accounts receivable or other receivables.

Formal Instruments

Legally binding documents that record obligations, rights, or processes, such as contracts, deeds, or promissory notes.

Credit Issued

The provision of funds or goods before payment, based on the trust that payment will be made in the future.

Reasonable Source

A credible or reliable origin of information or data that is considered acceptable or trustworthy for making decisions or drawing conclusions.