During the Risk Assessment Phase, the Audit Team Should Gain

question 78

Multiple Choice

During the risk assessment phase, the audit team should gain an understanding of the client's procedures for __________.

• A)identifying related parties and authorizing transactions with related parties.
• B)authorizing transactions with related parties and disclosing the relationships and transactions in the financial statements.
• C)authorizing transactions with related parties.
• D)All of the above are correct.