(Objectives 13-2, 13-4) Evaluate the following statement: “Tests of sales and cash receipts transactions are such an essential part of every audit that I like to perform them as near the end of the audit as possible. By that time I have a fairly good understanding of the client’s business and its internal controls because confirmations, cutoff tests, and other procedures have already been completed.”
Objective 13-2
Select the appropriate types of audit tests.
Objective 13-4
Understand the concept of evidence mix and how it should be varied in different circumstances.
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