Auditors begin their assessments of inherent risk during the planning phase. Which of the following would NOT be a topic of the planning phase that would also help to assess inherent risk?
A) Obtaining client's agreement on the engagement letter
B) Identifying related parties
C) Obtaining knowledge about the client's business and industry
D) Touring the client's plant and offices
Correct Answer:
Verified
Q32: In an audit area that has a
Q33: When there is a high degree of
Q34: AASB 1031 suggests guidelines.
A) relevant
B) quantitative
C) qualitative
D)
Q35: Which one of the following factors is
Q36: An aim of allocating a preliminary judgement
Q38: Materiality and risk are concepts in planning
Q39: The amount of evidence required will be
Q40: The audit risk model is:
A) useful in
Q41: When auditors allocate the preliminary judgement about
Q47: Auditors respond to risk by:
A) changing the
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