The Final Phase of an Audit Includes Which of the Following

question 22

Multiple Choice

The final phase of an audit includes which of the following:

• A)confirming the terms of the audit engagement with the auditor.
• B)performing substantive tests of account balances.
• C)gaining an understanding of the client's internal control system.
• D)determining whether the audit evidence obtained is sufficient and appropriate to reduce the risk of material misstatements in the financial report to an acceptably low level.

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Definitions:

Disciplinary Measures

Actions taken to correct or penalize undesirable behaviors within an organizational or educational setting.

Stakeholder Responsibility

The obligation organizations have to consider the interests of all stakeholders in their decision-making processes.

Sexual Nature

Pertaining to or involving sex, sexual activity, or characteristics distinguishing between masculinity and femininity.

Offensive Material

refers to content that is likely to upset or disgust individuals, often because it is explicit, discriminatory, or disrespectful.