Auditors Follow a Four-Step Approach to Reduce Assessed Control Risk

Multiple Choice

Auditors follow a four-step approach to reduce assessed control risk. Which of the following is not one of the four?

A) Apply transaction-related audit objectives to a class of transactions.
B) Identify accounts that have high inherent risk.
C) Identify key controls that reduce control risk.
D) For potential misstatements, design appropriate substantive tests of transactions.