During the risk response phase of the audit, an auditor will document
A) details of audit tests undertaken.
B) their understanding of their client.
C) related parties identified.
D) analytical procedures used to aid in risk identification.

Question

Quizplus · Accepted Answer

During the risk response phase of the audit, the auditor will document the details of audit tests undertaken to address identified risks. This documentation is important to track the progress of testing and ensure that all significant risks are addressed.

Answer B, C, and D are incorrect as they are more likely to be documented during the risk assessment phase of the audit, rather than the risk response phase. During risk assessment, auditors will document their understanding of their client, related parties identified, and analytical procedures used to identify risks.

During the Risk Response Phase of the Audit, an Auditor