An audit strategy sets the direction, timing, and scope of an audit. Based on your audit knowledge, which of the following would be included in the audit strategy document?   Select one: a. A flowchart of the entity's internal control system. b. The decision as to the combination of substantive testing and tests of control that would be adopted. c. The number of sales transactions to be tested. d. The results of the interim testing of payroll.

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Q: Auditing Sales/Revenue Transactions When an auditor needs to obtain an understanding of the overall…

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Q: Which of the following audit procedures is a dual-purpose test, which tests the effectiveness of…

A: A dual-purpose test is an audit method that serves as a control and substantive test at the same…

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A:

Q: Assume that your audit partner asks you to design detailed substantive testing programs for accounts…

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A:

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A:

Q: Identify the phase of the audit in which each activity occurs. Put parts 1 through 9 of the audit…

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Q: 5. The computer assigns a number to every sales invoice. Which management assertions apply to this…

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Audit Procedures

Audit Procedures are methods and techniques performed by the auditor to determine the quality of financial information of clients, thereby expressing an opinion on true & fair view of financial statements and entity position. They are identified and applied at the planning stage of audit after determining audit objectives, scope, approach, and risk assessment.