Kerry and her supervisor Martha are discussing the audit of one of their largest clients. Kennedy Enterprises, LLC. Kerry asks Martha how they will be able to test all of the client's accounts and transactions in the limited time they have to perform the audit. Martha should answer this question in which of the following ways? O We effectively utilize audit sampling to determine control exceptions, and then perform substantive test on those control exceptions. O We will plan to obtain a representative sample of the population of each account we test. If our sample is representative. then we will likely be able to obtain reasonable assurance. O That is a good question. We may have to hire more staff or increase the planned number of billable audit hours to get it all done. O Our audit firm routinely uses audit data analytics to test samples of all accounts for all of our clients. In so doing, we are able to offer absolute assurance of no errors or fraud in the financial statements.

Kerry and her supervisor Martha are discussing the audit of one of their largest clients. Kennedy Enterprises, LLC. Kerry asks Martha how they will be able to test all of the client's accounts and transactions in the limited time they have to perform the audit. Martha should answer this question in which of the following ways? We effectively utilize audit sampling to determine control exceptions, and then perform substantive test on those control exceptions. We will plan to obtain a representative sample of the population of each account we test. If our sample is representative. then we will likely be able to obtain reasonable assurance. That is a good question. We may have to hire morestaff or increase the planned number of billable audit hours to get it all done Our audit firm routinely uses audit dats analytics to test samples of all accounts for all of our clients. In so doing. we are able to offer absolute assurance of no ercors or fraud in the financial statements