Question
There are five type of audit tests of financial statements: (1)Risk Assessment Procedures (2)Test of Controls (3)Substantive Tests of Transactions (4)Analytical Procedures (5)Tests of Details
There are five type of audit tests of financial statements:
(1)Risk Assessment Procedures
(2)Test of Controls
(3)Substantive Tests of Transactions
(4)Analytical Procedures
(5)Tests of Details of Balances.
Look at the Form 10-K of the company Verizon. Supposed that an audit is being conducted for Verizon, which tests are best suited for the company, and why? Why the other tests are not suitable?
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Fundamentals Of Cost Accounting
Authors: William Lanen, Shannon Anderson
2nd Edition
0071332618, 978-0071332613
