Multiple Choice
Since the audit of accounts payable generally takes a considerable amount of audit time,effective and properly tested internal controls can significantly reduce audit costs by reducing
A) tests of controls.
B) confirmations.
C) tests of details of balances.
D) analytical procedures.
Correct Answer:
Verified
Correct Answer:
Verified
Q36: The main focus taken by the auditor
Q37: Because of the importance of tests of
Q38: The statement that all purchase orders must
Q39: It is normal for the auditor to
Q42: Which of the following areas are tested
Q43: When automatic purchase orders are generated,to help
Q44: To determine whether accounts payable are complete,an
Q45: Comparing expenses to prior years is an
Q46: Discuss the key internal controls related to
Q143: Describe the audit procedures typically used to