In developing an appropriate work program for an audit engagement, the most important factor for an audit supervisor to consider is the:
A) Availability of records and data.
B) Potential impact of risks.
C) Audit personnel's knowledge and experience.
D) Time required to complete the engagement.

Question

Quizplus · Accepted Answer

The potential impact of risks is the most important factor because it determines the areas that require more attention and resources, ensuring that the audit is effective in identifying and addressing significant issues.

In Developing an Appropriate Work Program for an Audit Engagement