A high detection risk strategy includes all of the following except:
A) Interim testing.
B) Reduced testing of transactions.
C) Heavy reliance on analytical procedures as substantive procedures.
D) Audit work only completed at year-end.

Question

Quizplus · Accepted Answer

Audit work only completed at year-end increases detection risk by not providing the opportunity to detect errors or frauds in a timely manner. Interim testing, reduced testing of transactions, and heavy reliance on analytical procedures are all examples of strategies that could be employed to reduce detection risk.

A High Detection Risk Strategy Includes All of the Following