Audit Tests That Follow Compliance Tests and Rely on the Interim

question 122

Multiple Choice

Audit tests that follow compliance tests and rely on the interim audit's results are called

• A) substantive tests.
• B) follow-up tests.
• C) internal control tests.
• D) evaluation tests.

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Definitions:

Gold Find

The discovery of gold, typically in significant quantities, which often prompts mining activities and economic interest in the area.

Dramatic Departure

A significant and often sudden change or shift from conventional behavior or previous patterns.

Financial Intermediary

An institution that acts as a middleman between savers and borrowers, facilitating the flow of funds in the financial markets.

Fraudulent Means

Fraudulent means involve deceit, trickery, or dishonest conduct with the intention of gaining an unfair advantage or causing harm to another party.