An auditor gathers evidence on internal controls for which respective time periods for the purposes of expressing an opinion on control effectiveness and for testing controls in the financial statement period. Control Effectiveness Financial Statement
A) As of year end As of year end
B) As of year end Throughout the year
C) Throughout the year As of year end
D) Throughout the year Throughout the year

Question

Quizplus · Accepted Answer

For expressing an opinion on control effectiveness, auditors evaluate controls as of year-end. For testing controls related to financial statements, they consider the entire year to ensure controls were effective throughout the period.

An Auditor Gathers Evidence on Internal Controls for Which Respective