After the auditor has completed the substantive tests of transactions for the revenue process,he or she determines
A)whether the balance sheet accounts in the revenue process are prepared in accordance with the applicable financial reporting framework
B)whether the income statement accounts in the revenue process are prepared in accordance with the applicable financial reporting framework
C)whether the balance sheet accounts in the revenue process are audited in accordance with the applicable financial reporting framework
D)whether the income statement accounts in the revenue process are audited in accordance with the applicable financial reporting framework

Question

Quizplus · Accepted Answer

The auditor's substantive tests of transactions for the revenue process primarily aim to verify whether the income statement accounts related to revenue are accurately prepared and presented in accordance with the applicable financial reporting framework. This includes ensuring that revenue is recognized, measured, presented, and disclosed as required by the framework.

After the Auditor Has Completed the Substantive Tests of Transactions