The Element of the Audit Planning Process Most Likely to Be

question 42

Multiple Choice

The element of the audit planning process most likely to be agreed upon with the entity before implementation of the audit strategy is the determination of the

• A) Evidence to be gathered to provide a sufficient basis for the auditor's opinion.
• B) Procedures to be undertaken to discover litigation, claims, and assessments.
• C) Pending legal matters to be included in the inquiry of the entity's attorney.
• D) Timing of inventory observation procedures to be performed.

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Definitions:

Human Biology

The scientific study of the human body, its structure, function, development, and evolution.

Organized System

A structured set of components or entities that are interrelated and work together to achieve a particular goal or set of goals.

Assumptions

Accepted beliefs or statements taken for granted without proof.

Observations

The act of noticing and recording something, often used as a method in scientific research to gather data.