AICPA每日一练之AUD【2016-1-10】

高顿网校2016-01-08 10:06Lynn.yu
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In developing an overall audit strategy, an auditor should consider

A. Findings from substantive tests performed at interim dates.

B. Reporting objectives of the engagement.

C. Whether the inquiry of the client’s attorney identifies any litigation, claims, or assessments not disclosed in the financial statements.

D. Whether the allowance for sampling risk exceeds the achieved upper precision limit.

Answer:B

B is corrent because an overall audit strategy involves (1) determining the scope of the audit, (2) determining the reporting objectives, and (3) considering various other important factors.

A is incorrect because any information on interim substantive tests will generally be obtained after the overall audit strategy has been developed.

C is incorrect because any information pertaining to attorney’s letters will generally be obtained after the overall audit strategy has been developed.

D is incorrect because any information on the achieved upper precision limit will generally be obtained after the overall audit strategy has been developed.

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