An initial (first-time) audit requires more
audit time to complete than a recurring
audit. One of the reasons for this is that
a. New auditors are usually assigned to an
initial audit.
b. A larger proportion of customer accounts
receivable need to be confirmed on an
initial audit.
c. The client's business, industry, and
internal control are unfamiliar to the
auditor and need to be carefully
studied.
d. Predecessor auditors need to be
consulted.
audit time to complete than a recurring
audit. One of the reasons for this is that
a. New auditors are usually assigned to an
initial audit.
b. A larger proportion of customer accounts
receivable need to be confirmed on an
initial audit.
c. The client's business, industry, and
internal control are unfamiliar to the
auditor and need to be carefully
studied.
d. Predecessor auditors need to be
consulted.