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)Occurrence.
B)Accuracy.
C)Cut-off.
D)Valuation and allocation.

Question

Quizplus · Accepted Answer

Valuation and allocation are more relevant to the assertions related to the financial statement balances rather than to the controls around a major transaction flow. Assertions like occurrence, accuracy, and cut-off directly relate to the transaction level and are thus of interest when testing controls around transaction flows.

When Undertaking Tests of Controls Which Are Related to Controls