True/False
The audit objective related to existence is to obtain evidence that the asset,liability or equity exists physically or legally.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q1: What is inherent risk?<br>A)The probability that some
Q2: Define control risk.
Q3: Generally accepted auditing standards permit auditors to
Q4: The three levels at which assertion terms
Q6: Can an auditor place complete reliance on
Q7: Which of the following statements concerning financial
Q8: To help achieve good governance,international best practice
Q9: Control risk is the probability that audit
Q10: A completeness error occurs when an account
Q11: Business processes cross boundaries between functional areas