What is the purpose of tests of controls Identify specific accounts on the financial statements that are affected by performing tests of controls for the acquisition and payment cycle ...

Tests of controls are audit procedures to test the operat ...

What is the purpose of tests of controls? Identify specific accounts on the financial statements that are

Question:

What is the purpose of tests of controls? Identify specific accounts on the that are affected by performing tests of controls for the acquisition and payment cycle.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...