Which of the following is not a primary objective of the auditor in undertaking substantive testing...

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Which of the following is not a primary objective of the auditor in undertaking substantive testing...

Which of the following is not a primary objective of the auditor in undertaking substantive testing of current assets? Which answer is correct and which is incorrect and give reasons for both accordingly.

Establish the existence of the current assets.
Determine the adequacy of internal control over current assets.

business accounting

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Answer 1

Answer #1

The primary objective of the auditor in undertaking substantive testing of current assets is to establish the existence of the current assets.

Determining the adequacy of internal control over current assets is not the primary objective of the auditor in undertaking substantive testing of current assets.

Because Substantive testing is performed by the auditor for assurance regarding existence , completeness, valuation, rights and disclosure.

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Answer 2

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