Multiple Choice
Auditors are most likely to gather audit evidence solely using substantive procedures
A) If transactions are recurring.
B) For nonrecurring, unusual transactions.
C) If control risk is very low.
D) If the entity has a well-designed automated system.
Correct Answer:

Verified
Correct Answer:
Verified
Q3: An auditor is least likely to test
Q5: In a properly designed internal control system,the
Q7: Management's attitude toward aggressive financial reporting and
Q10: The concept of reasonable assurance in the
Q11: After the auditor has prepared a flowchart
Q36: Internal control includes monitoring of controls.
Q54: Which of the following procedures most likely
Q67: The risk assessment component of internal control
Q77: To obtain evidential matter about control risk,
Q80: Once a level of control risk has