An audit strategy sets the direction, timing, and scope of an audit. Based on your audit knowledge, which of the following would be included in the audit strategy document? Select one: a. A flowchart of the entity's internal control system. b. The decision as to the combination of substantive testing and tests of control that would be adopted. c. The number of sales transactions to be tested. d. The results of the interim testing of payroll.
An audit strategy sets the direction, timing, and scope of an audit. Based on your audit knowledge, which of the following would be included in the audit strategy document? Select one: a. A flowchart of the entity's internal control system. b. The decision as to the combination of substantive testing and tests of control that would be adopted. c. The number of sales transactions to be tested. d. The results of the interim testing of payroll.
Auditing: A Risk Based-Approach to Conducting a Quality Audit
10th Edition
ISBN:9781305080577
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter16: Advanced Topics Concerning Complex Auditing Judgments
Section: Chapter Questions
Problem 27MCQ
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An audit strategy sets the direction, timing, and scope of an audit. Based on your audit knowledge, which of the following would be included in the audit strategy document?
Select one:
a.
A flowchart of the entity's internal
b. The decision as to the combination of substantive testing and tests of control that would be adopted.
c.
The number of sales transactions to be tested.
d.
The results of the interim testing of payroll.
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