Which of the Following Is the Least Important Audit Reason

question 37

Multiple Choice

Which of the following is the least important audit reason for the auditor's obtaining an understanding of a company's internal control?

• A)To serve as a basis for constructive suggestions.
• B)To plan subsequent substantive tests.
• C)To identify types of possible misstatements that may occur.
• D)To consider factors that may affect the risk of material misstatement.

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Definitions:

Awfulizing

The cognitive distortion of imagining the worst possible outcomes in a situation, often leading to increased anxiety or fear.

Doom

A term referring to impending disaster, ruin, or the inevitability of a negative outcome.

Personal Pleasures

Activities or experiences that bring joy or satisfaction to an individual on a personal level.

Distressing Events

Situations or occurrences that cause emotional, physical, or psychological strain or distress.