In the Context of an Audit of a Financial Report

question 67

Multiple Choice

In the context of an audit of a financial report, substantive tests are audit procedures that:

• A)may be eliminated under certain conditions.
• B)are designed to discover significant subsequent events.
• C)may be either tests of details of transactions, tests of details of account balances, tests of disclosure, or analytical procedures.
• D)will increase proportionately with the auditor's reliance on internal control.

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Definitions:

Data

Facts, figures, or information collected for analysis or used to inform decisions or conclusions.

Unethical

Actions or behaviors that violate moral principles, standards, or codes of conduct within a given context.

Ethical Messages

Communications that adhere to moral principles, promoting honesty, integrity, and fairness in content and delivery.

International Work Environment

A professional setting that involves the interaction and collaboration of employees from various countries and cultures.