The auditor's conclusions are stated as opinion rather than a statement of fact:

Select one:

a. to avoid the possibility of legal action against the auditor

b. to allow for a margin of error c.

because conclusions are based on professional judgement

d. all of the above

Often, procedures for presentation- and disclosure-related objectives are integrated with the auditor's tests for:

Select one:

a. transaction-related objectives.

b. balance-related objectives.

c. both A) and B).

d. none of the above.

Once the auditor has decided on procedures, the acquisitions and cash payments tests are typically performed:

Select one:

a. concurrently, to achieve efficiency without reducing the effectiveness of the tests.

b. by different audit staff, to maintain independence.

c. separately, to maximise the effectiveness of the tests.

d. consecutively, to achieve efficiency without reducing the effectiveness of the tests.