Performance of audit procedures at an interim date causes the risk of material misstatement occurring between the interim date and the end of the year to do which of the following?
A)Decrease.
B)Increase.
C)Remain the same.
D)Become more difficult to ascertain.

Question

Quizplus · Accepted Answer

Performing audit procedures at an interim date only provides assurance for that specific date and does not take into account any changes that may occur before the end of the year. Therefore, the risk of material misstatement occurring between the interim date and the end of the year increases.

Performance of Audit Procedures at an Interim Date Causes the Risk