Auditors use two kinds of audit plans,one for obtaining evidence about control risk,and the other for obtaining evidence about dollar amounts and disclosures.

Question

Quizplus · Accepted Answer

Auditors do indeed use two different types of audit plans- one for obtaining evidence about control risk (referred to as a "test of controls" plan) and the other for obtaining evidence about dollar amounts and disclosures (referred to as a "substantive procedures" plan).

Auditors Use Two Kinds of Audit Plans,one for Obtaining Evidence