Testing all transactions that occurred during the period is cost prohibitive.

Name: Testing all transactions that occurred during the period is cost prohibitive.
Brand: Quizplus
Rating: 4.9 (26 reviews)

Question

Quizplus · Accepted Answer

Testing every transaction that occurred during a period is both time-consuming and expensive, making it cost-prohibitive. Therefore, auditors adopt a sampling approach to test a representative sample of transactions that they believe are likely to be the highest risk.

Testing All Transactions That Occurred During the Period Is Cost