Transaction-Related Audit Objectives Would Most Likely Be Performed in Which

question 73

Multiple Choice

Transaction-related audit objectives would most likely be performed in which phase of the audit process?

• A) plan and design audit approach
• B) perform tests of controls and substantive tests of transactions
• C) perform substantive analytical procedures and tests of details of balances
• D) complete the audit and issue the audit report

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Definitions:

Right Time

The most appropriate or opportune moment to undertake an action or event, ensuring maximum effectiveness or success.

Right Amount

An optimal quantity or volume necessary to achieve a particular result or meet a specific need without excess or deficit.

Right Format

The appropriate or optimal arrangement, structure, or presentation of data or information for a specific purpose.

Unmanned Aerial Vehicle

Also known as a drone, it is an aircraft without a human pilot aboard, controlled remotely or autonomously, used for various purposes, including surveillance, delivery, and environmental monitoring.