The final phase of the audit involves _______.
A)drawing conclusions based upon the evidence gathered and arriving at an opinion about the fair presentation of the financial statements
B)detailed testing of internal controls, transactions, account balances, and disclosures the auditors have determined to be at high risk of material misstatement
C)planning the audit by assessing risk to reduce audit risk to an acceptably low level
D)gaining an understanding of the client and identifying factors that may impact the risk of a material misstatement occurring in the financial statements

Question

Quizplus · Accepted Answer

The final phase of the audit involves drawing conclusions based upon the evidence gathered and arriving at an opinion about the fair presentation of the financial statements. This involves evaluating the evidence gathered during the audit and determining whether the financial statements are fairly presented in accordance with the applicable accounting standards. The auditor then issues an opinion based on their findings.

The Final Phase of the Audit Involves _______