The lack of significant change in an account balance from one year to the next donot necessarily mean that the auditor can assume the balance is reasonable.

Question

Quizplus · Accepted Answer

The lack of significant change in an account balance does not guarantee that the balance is reasonable, and the auditor cannot make any assumptions based solely on this. The auditor should perform additional audit procedures to determine the accuracy and completeness of the account balance.

The Lack of Significant Change in an Account Balance from One