Answer:
The question is not complete; the options are not given.
This is the complete question
Which of the following approaches is most suitable for auditing the finance and investment cycle?
a) perform extensive tests of controls and limit substantive procedures to analytical procedures
b) Ignore internal controls and perform extensive substantive procedures
c) Gain an understanding of internal controls and perform extensive substantive procedures
d) Ignore internal controls and limit substantive procedures to analytical procedures
Step-by-step explanation:
The right option is option c)
Gain an understanding of internal controls and perform extensive substantive procedures.
The approaches which is most suitable for auditing the finance and investment cycle is gaining an understanding of internal controls and perform extensive substantive procedures. Which makes option c the right option.
