Final answer:
Characteristics not indicative of a financial audit include being broad-ranging, as audits are specific in scope. Financial audits are, however, rules-based, non-adversarial, periodic, and focus on historical financial information.
Step-by-step explanation:
The characteristics not typical of a financial audit would be that it is not broad-ranging. Financial audits are typically specific in their scope, focusing on the veracity of financial information presented in an entity's financial statements. A broad-ranging examination might relate to a full-scale operational audit or a performance audit, for instance. Financial audits are indeed rules-based, following established principles such as Generally Accepted Auditing Standards (GAAS) in the United States or International Standards on Auditing (ISA) internationally.
A financial audit is non-adversarial as auditors should maintain an independent and objective stance without creating an adversarial relationship with the auditee. However, disagreements over accounting treatments can occur. Audits are periodic, usually occurring annually, to coincide with the end of the fiscal year, and they review the historical financial transactions and performance of an entity.