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n planning an audit?

n planning an audit?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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What is involved in planning an audit? O a. Establish the engagement relationship O b. Develop an internal control of the entity O C. Establishing the overall audit strategy O d. Establishing the overall entity's strategies
Transcribed Image Text:What is involved in planning an audit? O a. Establish the engagement relationship O b. Develop an internal control of the entity O C. Establishing the overall audit strategy O d. Establishing the overall entity's strategies
What does it mean the audit documentation should be self-explanatory? O a. It shall be sufficient to enable management to understand the internal control O b. It shall be sufficient to enable employee to understand the internal control O c It shall be sufficient to enable an experienced auditor to understand the audit procedures O d. It shall be sufficient to enable auditor to understand the engagement letter
Transcribed Image Text:What does it mean the audit documentation should be self-explanatory? O a. It shall be sufficient to enable management to understand the internal control O b. It shall be sufficient to enable employee to understand the internal control O c It shall be sufficient to enable an experienced auditor to understand the audit procedures O d. It shall be sufficient to enable auditor to understand the engagement letter
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