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CPA Accountant Review Questions

Category - ABFA General Topics

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What happens when an auditor is not able to apply ‘audit procedures’ on a particularly selected item?
  1. No effect on the item
  2. The item is deemed not to be containing any misstatement
  3. The item is deemed as a deviation/misstatement
  4. None of these
Explanation
Answer: C - When an auditor selects a sample size, then audit procedures are to be performed on all the sample items. If such procedures are unable to be performed on an item, then such item is deemed as a misstatement.
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