For sales, the completeness transaction-related audit objective affects the existence balance-related audit objective.

Question

Quizplus · Accepted Answer

The completeness transaction-related audit objective ensures that all transactions that should have been recorded are indeed recorded, while the existence balance-related audit objective ensures that balances that appear on the financial statements actually exist. These objectives address different aspects of the financial statements and do not directly affect each other.

For Sales, the Completeness Transaction-Related Audit Objective Affects the Existence