The audit process is the sequence of different activities involved in an audit. Identify the phase in the audit that is captured by this primary objective: 1. To assess and evaluate the quality of services delivered by the engagement team. * 2. To assess the different risks associated with the audit to determine the nature, timing and extent of further audit procedures necessary to be performed. * 3. To assist the auditor in assessing conclusion reached whether it is consistent with evidence gathered.
The audit process is the sequence of different activities involved in an audit. Identify the phase in the audit that is captured by this primary objective: 1. To assess and evaluate the quality of services delivered by the engagement team. * 2. To assess the different risks associated with the audit to determine the nature, timing and extent of further audit procedures necessary to be performed. * 3. To assist the auditor in assessing conclusion reached whether it is consistent with evidence gathered.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The audit process is the sequence of different activities involved in an audit. Identify the phase in the audit that is captured by this primary objective:
1. To assess and evaluate the quality of services delivered by the engagement team. *
2. To assess the different risks associated with the audit to determine the nature, timing and extent of further audit procedures necessary to be performed. *
3. To assist the auditor in assessing conclusion reached whether it is consistent with evidence gathered. *
Pre-engagement
Audit planning
Consideration of internal controls
Evidence-gathering (substantive testing)
Completing the audit
Issuance of the audit report
Post-audit responsibilities
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