Direction: summarize each step of the risk-based audit process. • Establishing audit objective • Agreeing to the terms of engagement • Obtaining knowledge of the business • Development of an overall audit plan

Direction: summarize each step of the risk-based audit process. • Establishing audit objective • Agreeing to the terms of engagement • Obtaining knowledge of the business • Development of an overall audit plan

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter7: Planning The Audit: Identifying, Assessing, And Responding To The Risk Of Material Misstatement

Section: Chapter Questions

Problem 23RQSC

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Direction: summarize each step of the risk-based audit process.

• Establishing audit objective
• Agreeing to the terms of engagement
• Obtaining knowledge of the business
• Development of an overall audit plan

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