The auditor must consider internal control when considering whether to rely on substantive analytical procedures.

Question

Quizplus · Accepted Answer

According to the Generally Accepted Auditing Standards (GAAS), the auditor must consider and evaluate the effectiveness of internal control in deciding the nature, timing, and extent of substantive procedures. Therefore, internal control is an important factor to consider when relying on substantive analytical procedures.

The Auditor Must Consider Internal Control When Considering Whether to Rely