Which of the following is not completed during phase IV of the audit?
A) Obtain a client representation letter.
B) Read information in the annual report to make sure that it is consistent with the financial statements.
C) Perform substantive tests of transactions.
D) Perform final analytical procedures.

Question

Quizplus · Accepted Answer

Substantive tests of transactions are typically completed during phase III of the audit, as they are a part of the testing of controls and substantive procedures. During phase IV, the auditor focuses on performing final analytical procedures, obtaining a client representation letter, and reading information in the annual report to ensure consistency with the financial statements.

Which of the Following Is Not Completed During Phase IV