In Assessing Inherent Risk for Purchasing Process Assertions, the Auditor

Multiple Choice

In assessing inherent risk for purchasing process assertions, the auditor should _______.

A) rely on the opinions formed by the internal audit function
B) consider pervasive factors influencing the understatement or overstatement of payables and expenses.
C) consider pervasive factors influencing the understatement or overstatement of receivables and expenses.
D) consider pervasive factors influencing the correct statement of payables and expenses.