Diane Smith, CPA, performed tests of controls and substantive tests of transactions for sales for the month
Question:
Diane Smith, CPA, performed tests of controls and substantive tests of transactions for sales for the month of March in an audit of the financial statements for the year ended December 31, 2023. Based on the excellent results of both the tests of controls and the substantive tests of transactions, she decided to significantly reduce her substantive tests of details of balances at year end. Evaluate this decision.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Auditing And Assurance Services An Integrated Approach
ISBN: 9780137879199
18th Edition
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Chris E. Hogan
Question Posted: