Which of the Following Approaches Is Most Suitable for Auditing

Multiple Choice

Which of the following approaches is most suitable for auditing the finance and investment cycle?

A) Perform extensive tests of controls and limit substantive procedures to analytical procedures.
B) Ignore internal controls and perform extensive substantive procedures.
C) Gain an understanding of internal controls and perform extensive substantive procedures.
D) Ignore internal controls and limit substantive procedures to analytical procedures.