Auditors Begin Their Assessments of Inherent Risk During Audit Planning

question 62

Multiple Choice

Auditors begin their assessments of inherent risk during audit planning.Which of the following would not help in assessing inherent risk during the planning phase?

• A)Obtaining client's agreement on the engagement letter
• B)Obtaining knowledge about the client's business and industry
• C)Touring the client's plant and offices
• D)Identifying related parties

---

Definitions:

Leiomyosarcoma

A rare type of cancer that occurs in smooth muscle tissue, found in the uterus, stomach, intestines, and blood vessels.

LCIS

Lobular Carcinoma In Situ, a non-invasive condition where abnormal cells are found in the lobules of the breast.

Abbreviation

The process or result of reducing a word or group of words to shorter form intended to represent the full form.

TSE

Transmissible Spongiform Encephalopathies, a group of progressive, invariably fatal, neurological disorders related to prion diseases.