With which stage in the auditing process are the consideration of risk factors and materiality most associated?
A) audit planning
B) collection of audit evidence
C) communication of audit results
D) evaluation of audit evidence

Question

Quizplus · Accepted Answer

Risk factors and materiality are most associated with the audit planning stage, where the auditor identifies areas of higher risk and determines the extent of audit procedures needed to address those risks. Materiality is also used to set the threshold for determining the significance of misstatements in the financial statements.

With Which Stage in the Auditing Process Are the Consideration