The Final Phase of the Audit Involves _______

question 91

Multiple Choice

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