When Compared to an Audit Performed Prior to 1900, an Audit

question 23

Multiple Choice

When compared to an audit performed prior to 1900, an audit today:

• A) Is more likely to include tests of compliance with laws and regulations.
• B) Is less likely to include consideration of the effectiveness of internal control.
• C) Has bank loan officers as the primary financial statement user group.
• D) Includes a more detailed examination of all individual transactions.