Which of the Following Is Part of Phase III of the Audit

question 21

Multiple Choice

Which of the following is part of phase III of the audit process, which is responding to assessed risks?

• A)Determine the nature, timing and extent of audit tests.
• B)Conduct tests of controls.
• C)Assess the risk of material misstatement.
• D)Identify significant inherent risks.

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Definitions:

Aryan Religion

The religious beliefs and practices associated with the Indo-European peoples known as Aryans, precursor to major religions such as Hinduism.

Soma

In Vedic tradition, Soma is a ritual drink of importance among the early Indians, also referred to a deity associated with this drink.

Palace

A grand residence, especially the home of a head of state or some other high-ranking dignitary, royals, or bishops.

Indus Valley

The Indus Valley refers to the region in South Asia home to the Indus Valley Civilization, one of the world's earliest urban cultures, known for its advanced city planning, architecture, and writing system around 2500 BCE.