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A retailing entity uses the Internet to execute and record its purchase transactions. The entity’s auditor recognizes that the documentation of details of transactions will be retained for only a short period of time. To compensate for this limitation, the auditor most likely would A. Increase the sample of transactions to be selected for cutoff tests. B. Compare a sample of paid vendors’ invoices to the receiving records at year-end. C. Plan for a large measure of tolerable misstatement in substantive tests. D. Perform tests several times during the year, rather than only at year-end. |