In What Order Should the Following Steps Occur

question 5

Multiple Choice

In what order should the following steps occur?
A.Assess client business risk
B.Understand the client's business and industry
C.Perform preliminary analytical procedures
D.Assess acceptable audit risk

• A)D, B, C, A
• B)B, A, C, D
• C)B, D, A, C
• D)D, C, B, A

---

Definitions:

Ethnic Group

A community or population made up of people who share a common cultural background or descent.

Own Group

The social group to which a person identifies or belongs, often influencing one's beliefs, behavior, and perceptions of others.

Rehabilitation Act

A federal law enacted in 1973 designed to protect individuals with disabilities from discrimination and ensure their rights in programs receiving federal financial assistance.

Handicapped

An outdated term used to describe individuals with disabilities; considered less respectful today.