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Homework answers / question archive / University of Michigan ACCOUNTING ACC 575 CHAPTER 6: 1)Which of the following statements is most correct regarding the primary purpose of audit procedures? To detect all errors or fraudulent activities as well as illegal activities To comply with the SEC To gather corroborative audit evidence about management’s assertions regarding the client’s financial statements To determine the amount of errors in the balance sheet accounts in order to adjust the accounts to actual A procedure designed to test for monetary misstatements directly affecting the validity of the financial statement balances is a: Test of controls Substantive test Test of attributes Monetary-unit sampling test You are auditing the company’s purchasing process for goods and services
1)Which of the following statements is most correct regarding the primary purpose of audit procedures?
accounts to actual
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