When undertaking tests of controls which are related to controls built around a major transaction flow, which assertion would be of least interest to the auditor?
A) Accuracy.
B) Completeness.
C) Occurrence.
D) Rights and obligations.

Question

Quizplus · Accepted Answer

When testing controls around a major transaction flow, the auditor is primarily concerned with the accuracy, completeness, and occurrence of the transactions. The rights and obligations assertion is less relevant in this context, as it pertains more to the ownership and legal obligations associated with assets and liabilities, which are not as directly related to transaction flows.

When Undertaking Tests of Controls Which Are Related to Controls