Question

During a financial statement audit an internal auditor may provide direct assistance to the independent CPA in performing. Tests of controls Substantive Tests A. Yes Yes B. Yes No C. No Yes D. No No Multiple Choice Option A Option D Option C Option B

Answer 1

During a financial statement audit an internal auditor may provide direct assistance to the independent CPA in performing both tests of controls and substantive tests.

What is audit ?

Audit is the checking or inspection of the account of the company in order to make sure a ll the transactions are recorded systematically and accurately. it is done to check the correctness of the accounts provided by the companies in the financial accounts.

During the auditing of financial statements, auditor provides helps to the Certified Public Accountant by performing both the test of control and substantive tests.

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