Wilfred Dominic Was Meeting with His Manager to Plan Audit

question 49

Multiple Choice

Wilfred Dominic was meeting with his manager to plan audit strategy in order to determine the amount of time to spend testing the client's internal controls and conducting detailed testing of transactions and account balances. Determining the audit strategy occurs during which phase of the audit?

• A) client acceptance stage
• B) planning stage
• C) performing stage
• D) reporting stage

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Definitions:

Smart Phones

Advanced mobile phones equipped with internet access, apps, and various multimedia capabilities.

Sense of Urgency

A feeling that an action or task requires immediate attention or haste.

Teamwork

Collaborative effort of a group to achieve a common goal or to complete a task in the most effective and efficient way.

Specialist Role

A specific position requiring expertise in a particular area or field.