A limitation of an audit is caused by
A) the nature of financial reporting.
B) the nature of audit procedures.
C) the need for the audit to be conducted within a reasonable period of time and at a reasonable cost.
D) all of the above

Question

Quizplus · Accepted Answer

All of the above factors contribute to limitations of an audit. The nature of financial reporting can be complex and subject to manipulation, which limits the accuracy of the audit. The nature of audit procedures may also be limited in their ability to detect certain types of fraud or errors. Additionally, the need for audits to be conducted within a reasonable timeframe and cost can limit the extent and depth of the audit procedures performed.

A Limitation of an Audit Is Caused by