Multiple Choice
Which of the following is not a substantive audit procedure for estimates of management?
A) Recalculating the mathematical estimate
B) Observing whether estimates are prepared by qualified personnel
C) Developing an independent estimate based on alternative assumptions
D) Comparing the estimates of management to subsequently discovered facts before the end of fieldwork
Correct Answer:
Verified
Correct Answer:
Verified
Q42: Which of the following audit procedures would
Q43: The focus of controls in the finance
Q44: An _ is an approximation of a
Q45: A _ approved by the board of
Q46: When auditing the valuation assertion of an
Q48: _ is responsible for making estimates and
Q49: Which of the following management assertions for
Q50: The auditors should insist that a representative
Q51: Which of the following is not a
Q52: _ of securities can prevent the use