Multiple Choice
When substantive tests performed identify errors or exceptions, the first response is to:
A) qualify the audit report.
B) understand why the exception or error has arisen.
C) report the client to ASIC.
D) perform additional substantive testing.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: A pledge is something delivered as security
Q18: The additional opportunities for influencing the timing
Q19: Which of the following are substantive tests
Q19: Physically sighting fixed assets enables the auditor
Q21: Existence of trade receivables is usually verified
Q22: Ensuring that all property, plant and equipment
Q23: When the assessment of inherent and control
Q25: When performing substantive procedures, the key objective
Q39: When trade receivables is a significant account
Q50: Accounts that are clearly trivial or immaterial