A limitation of observation is that observing a process on one day does not necessarily indicate how the transactions were processed on a different day or over a relevant period of time.
Correct Answer:
Verified
Q4: The auditor uses professional judgment to determine
Q5: Internal documentation is generally less reliable than
Q6: For an auditor to test the existence
Q7: One strategy used by auditors in testing
Q8: Vouching recorded transactions involves taking a sample
Q10: The type of audit procedure known as
Q11: Inspection of tangible assets generally provides reliable
Q12: Evidence can be directly or indirectly relevant
Q13: Audit evidence used to support an audit
Q14: Relevance and reliability of evidence make up
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