The third generic step in a financial statement audit has the strongest relationship to one of the ___ standards in GAAS.
A)General
B)Field work
C)Reporting
D)Environmental

Question

Quizplus · Accepted Answer

The third generic step in a financial statement audit is the field work or audit evidence gathering, which has the strongest relationship to the field work standard in GAAS. This standard requires the auditor to obtain sufficient appropriate audit evidence through inspection, observation, inquiry, and other audit procedures to support the conclusions and opinion expressed in the auditor's report.

The Third Generic Step in a Financial Statement Audit Has