Indicate the Proper Sequence of Steps in Planning an Integrated

question 64

Multiple Choice

Indicate the proper sequence of steps in planning an integrated audit: 1.Consider the Possibility of Account Misstatements.
2) Complete Preliminary Analytical Procedures.
3) Identify Controls to Test.
4) Update Information about Various Risks.
5) Understand the Client's Internal Controls.

• A)4,2,3,5,1
• B)4,1,2,5,3
• C)1,4,5,2,3
• D)1,4,2,5,3

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Definitions:

Budgeted Sales

Projected sales figures used for planning purposes, often as part of a company's budgeting process to estimate future revenue.