The audit of the acquisition and payment cycle often takes ________ time to audit than other cycles.
A) less
B) no less
C) more
D) about the same

Question

Quizplus · Accepted Answer

The acquisition and payment cycle often involves complex transactions, including purchases, trade payables, and payment disbursements, which can be susceptible to errors or fraud. Therefore, it generally takes more time to audit than other cycles due to the need for detailed testing and verification of transactions and controls.

The Audit of the Acquisition and Payment Cycle Often Takes