An assessment of the client's internal control over cash and marketable securities should take place during the performance of the substantive tests on these accounts.

Question

Quizplus · Accepted Answer

The assessment of the client's internal control over cash and marketable securities typically occurs during the planning phase of an audit, before the performance of substantive tests, to determine the nature, timing, and extent of those tests.

An Assessment of the Client's Internal Control Over Cash and Marketable