Practically all audits follow a similar sequence of activities that can be divided into four stages.Organizing the audit team and the physical examination of assets are components of which two separate audit stages?
A)audit planning; evaluation of audit evidence
B)audit planning; collection of audit evidence
C)collection of audit evidence; communication of audit results
D)audit planning only

Question

Quizplus · Accepted Answer

Organizing the audit team is a component of the audit planning stage, while the physical examination of assets is a component of the collection of audit evidence stage. Both of these activities are included in the four stages of practically all audits, and are separate from the other stages mentioned in choices A, C, and D. Therefore, the best choice is B, which includes both audit planning and the collection of audit evidence.

Practically All Audits Follow a Similar Sequence of Activities That