Planning an audit involves which of the following steps:
A) risk assessment.
B) collecting information concerning the client's information system.
C) collecting information about the client.
D) All of the above.

Question

Quizplus · Accepted Answer

Planning an audit involves all of the above steps. Risk assessment is a crucial step in planning an audit, as it helps the auditors to identify the areas where the risks are highest and adjust the audit plan accordingly. Collecting information concerning the client's information system helps the auditors to understand the client's financial system, internal controls, and processes. Collecting information about the client helps the auditors to understand the client's business operations, management, and other factors that may affect the audit. Therefore, all of the given options are necessary steps in planning an audit.

Planning an Audit Involves Which of the Following Steps