Which of the following is not a consideration in the planning phase of the audit?
A) obtaining an understanding of the entity's business and industry.
B) assessing competence to perform the audit.
C) considering audit risk.
D) making preliminary judgements about materiality levels.

Question

Quizplus · Accepted Answer

Assessing competence to perform the audit is a consideration before accepting the audit engagement, not specifically in the planning phase. The planning phase focuses on understanding the entity, assessing risks, and determining materiality, among other tasks.

Which of the Following Is Not a Consideration in the Planning