Auditors Follow a Four Step Approach to Reduce Assessed Control

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) Indentify accounts that have high inherent risk.
C) Identify key controls that reduce control risk.
D) For potential misstatements, design appropriate substantive tests of transactions.