There are more phases in an operational audit than in a financial statement audit.

Name: There are more phases in an operational audit than in a financial statement audit.
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Operational audits typically involve a more comprehensive review of processes, procedures, systems, and outcomes to evaluate efficiency and effectiveness, whereas financial statement audits focus primarily on the accuracy of financial records and compliance with accounting standards, often involving fewer distinct phases.

There Are More Phases in an Operational Audit Than in a Financial