EBK AUDITING+ASSURANCE SERVICES
EBK AUDITING+ASSURANCE SERVICES
17th Edition
ISBN: 9780135171219
Author: ARENS
Publisher: PEARSON CO
Question
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Chapter 13, Problem 11RQ
To determine

Identify the different types of tests from most costly to least costly. The tests given are substantive analytical procedures, tests of details of balances, risk assessment procedures, test of controls, and substantive tests of transactions.

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Students have asked these similar questions
Generally, which of the following audit procedures is the least expensive to perform?   A. Analytical procedures   B. Tests of details of balance   C. Substantive tests of transactions   D. Tests of controls   E. Risk assessment procedures
Distinguish between the "risk driven" and "procedures driven" approaches to auditing, evaluating the advantages and disadvantages which each approach entails.
Explain the relationship of performance materiality, inherent risk, and control risk to planned tests of details of balances.
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