All of following areas of financial information should be Considered by the auditors and Auditors must need to be familiar with the customers controls related to financial reporting, safeguarding financial transactions, and compliance with laws and regulations affecting the financial statements if they plan to rely on them in order to reduce substantive testing on the financial statement audit EXCEPT:

Question

Quizplus · Accepted Answer

The responsibility of maintaining accounting records is not directly related to the controls over financial reporting, safeguarding transactions, or compliance, which are the focus areas for auditors when considering reliance on controls to reduce substantive testing.

All of Following Areas of Financial Information Should Be Considered