A top-down, risk-based approach to a financial report audit requires auditors to consider the materiality of account balances.

Name: A top-down, risk-based approach to a financial report audit requires auditors to consider the materiality of account balances.
Brand: Quizplus
Rating: 4.9 (42 reviews)

Question

Quizplus · Accepted Answer

A top-down, risk-based approach focuses on understanding the overall risks to the financial statements, including the materiality of account balances, to determine where to focus audit efforts for the most significant areas.

A Top-Down, Risk-Based Approach to a Financial Report Audit Requires