Performing substantive procedures prior to year-end,in the absence of specific effective controls,may be acceptable when:
A)the likelihood of errors or fraud is low.
B)the auditor is able to conclude overall that the client's control environment is effective.
C)the likelihood of errors or fraud is high.
D)Both a and c

Question

Quizplus · Accepted Answer

Substantive procedures may be performed prior to year-end in the absence of specific effective controls when the likelihood of errors or fraud is high (choice C) or when the auditor is able to conclude overall that the client's control environment is effective (choice A).

Performing Substantive Procedures Prior to Year-End,in the Absence of Specific