Which of the following is most likely to indicate the existence of related parties? a. Elimination of obsolete inventory before the end of the year b. Does not correct weaknesses in the client's internal control structure c. Unexplained increase in gross profit d. Borrowing money at an interest rate that is much lower than the market interest rate

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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.