The auditor has determined that, as the assessment of control risk is high, the audit strategy adopted will be the predominantly substantive approach.What is the cost of this audit likely to be?
A)Low.
B)Moderate.
C)High.
D)Cannot be determined.

Question

Quizplus · Accepted Answer

A predominantly substantive approach involves extensive testing of transactions and balances, which typically increases the cost of the audit.

The Auditor Has Determined That, as the Assessment of Control