Which of the Following Is the Most Likely First Step

question 37

Multiple Choice

Which of the following is the most likely first step that an auditor will perform after accepting an initial audit engagement?

• A) Prepare a rough draft of the financial report and of the auditor's report.
• B) Assess control risk for the assertions embodied in the financial report.
• C) Tour the client's facilities and review the general records.
• D) Consult with and review the work of the previous auditor prior to discussing the engagement with the client management.

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Definitions:

Chlamydomonas

A genus of green algae that are unicellular flagellates, often used in biological research as a model organism.

Plasmodium

A genus of parasitic protozoa, several species of which are responsible for causing malaria in humans.

Asexual Spores

Reproductive cells produced by some organisms, enabling them to reproduce without the need for sexual reproduction.

Sac Fungus

A group of fungi characterized by the production of spores in sac-like structures called asci.