Multiple Choice
Performing substantive procedures prior to year-end, in the absence of specific effective controls, may be acceptable when:
A) the auditor is able to conclude overall that the client's control environment is effective.
B) the likelihood of errors or fraud is high.
C) the likelihood of errors or fraud is low.
D) both a and c
Correct Answer:

Verified
Correct Answer:
Verified
Q1: Key item testing is an example of
Q7: Typically, substantive testing tends to be performed<br>A)
Q25: Vouching involves tracking a source document back
Q31: Daniel Morency has performed evaluations of financial
Q33: Discuss the factors that influence the extent
Q35: The nature of substantive procedures normally consists
Q38: A significant account is one that could
Q40: Analytical procedures that provide persuasive evidence include<br>A)
Q44: Common examples of substantive procedures related to
Q72: After performing a risk assessment of a