Auditors are most likely to use the most rigorous audit procedures to examine:
A)routine transactions.
B)management assertions that are deemed to be of low risk.
C)only the rights and obligations assertion.
D)management assertions that are deemed to be of high risk.

Question

Quizplus · Accepted Answer

Auditors are likely to use the most rigorous audit procedures for management assertions that are deemed to be of high risk. This is because high-risk assertions have a higher probability of material misstatement, which could result in a material misstatement in the financial statements. Therefore, auditors will use more rigorous procedures to ensure that these assertions are accurate and reliable.

Auditors Are Most Likely to Use the Most Rigorous Audit