After general audit objectives are understood, specific audit objectives for each account balance on the financial statements can be developed. Which of the following statements is true?

Question

Quizplus · Accepted Answer

There should be at least one specific objective for each relevant general objective, but there may be more than one depending on the complexity and risk level of the account balance being audited. It is important to identify all relevant risks and establish specific objectives to address them.

After General Audit Objectives Are Understood, Specific Audit Objectives for Each