Public Company Accounting Oversight Board (PCAOB)encourages auditors to start from the basic/bottom of financial transaction records to identify the key controls.

Question

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The PCAOB does not specifically encourage auditors to start from the basic/bottom of financial transaction records to identify key controls. Instead, it emphasizes a risk-based approach, focusing on understanding the company's processes and identifying and testing controls that are most important to preventing or detecting material misstatements.

Public Company Accounting Oversight Board (PCAOB)encourages Auditors to Start from the Basic/bottom