An important benefit of industry comparisons is as:
A)an aid to understanding the client's business.
B)an indicator of errors.
C)an indicator of fraud.
D)a least-cost indicator for audit procedures.

Question

Quizplus · Accepted Answer

Industry comparisons help auditors understand the client's business by providing insights into the general environment, risks, and important issues affecting the client's industry. This understanding helps auditors plan and perform more effective and efficient audit procedures.

An Important Benefit of Industry Comparisons Is As