Substantive tests of transactions are the most expensive type of audit test to perform.

Question

Quizplus · Accepted Answer

Substantive tests of transactions are not necessarily the most expensive type of audit test to perform; the cost can vary depending on the nature of the audit, the complexity of the transactions, and the level of detail required. Tests of controls or detailed analytical procedures, for example, can also be quite costly depending on the circumstances.

Substantive Tests of Transactions Are the Most Expensive Type of Audit