When substantive tests performed identify errors or exceptions,the first response is to:
A) report the client to ASIC.
B) qualify the audit report.
C) understand why the exception or error has arisen.
D) perform additional substantive testing.
Correct Answer:
Verified
Q30: What are the key assertions for payables?
A)Completeness
Q31: Auditors usually test for the existence of
Q32: When performing substantive procedures,the key objective is
Q33: Existence of trade receivables is usually verified
Q34: Investments can be vouched to supporting external
Q36: The rights and obligations assertion relates to
Q37: What are the principal objectives in auditing
Q38: Which of the following account balances are
Q39: Ensuring that all property,plant and equipment owned
Q40: Which are the two audit assertions considered
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents