Which of the Following Approaches Is Most Suitable for Auditing

question 72

Multiple Choice

Which of the following approaches is most suitable for auditing the finance and investment cycle?

• A)Perform extensive tests of controls and limit substantive procedures to analytical procedures.
• B)Ignore internal controls and perform extensive substantive procedures.
• C)Gain an understanding of internal controls and perform extensive substantive procedures.
• D)Ignore internal controls and limit substantive procedures to analytical procedures.

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Definitions:

In-

A prefix used to indicate negation or absence.

Retro-

A prefix meaning "backwards" or "behind," used in various contexts including medical terminology to denote location or time.

Backward

Denotes a movement or action directed towards the rear or in reverse.

Ante-

A prefix meaning before or preceding in time or order.