The specific procedures listed on the audit plan depend on
A)the outcome of the risk assessment procedures
B)the amount of substantive testing of transactions that is required
C)the results of the tests of controls
D)the determined level of materiality

Question

Quizplus · Accepted Answer

The specific procedures listed on the audit plan depend on the outcome of the risk assessment procedures. The risk assessment procedures help to identify the areas where risks of material misstatement are higher, which, in turn, determines the specific procedures to be performed.

The Specific Procedures Listed on the Audit Plan Depend on