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lcard044 lcard044
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In performing the audit of internal control over financial reporting, the auditor emphasizes internal control over classes of transactions because

▸ the accuracy of accounting system outputs depends heavily on the accuracy of inputs and processing.

▸ the class of transaction is where most fraud schemes occur.

▸ account balances are less important to the auditor then the changes in the account balances.

▸ classes of transactions tests are the most efficient manner to compensate for inherent risk.
Textbook 

Auditing and Assurance Services


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latoya86latoya86
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the accuracy of accounting system outputs depends heavily on the accuracy of inputs and processing.

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