AUDITING LL W/ CONNECT <C>
AUDITING LL W/ CONNECT <C>
11th Edition
ISBN: 9781307416268
Author: MESSIER
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Chapter 1, Problem 1.17MCQ
To determine

Concept Introduction:Auditing is an independent examination of financial statements. The set of financial statements includes balance sheet, income statement, statement of owner’s equity, and statement of cash flows. The audit is performed by an independent auditor. Understanding the client, its business and internal control: The auditor takes the understanding of the client business and internal control to plan its audit procedures.

To choose: The purpose of obtaining an understanding of the entity and its environment.

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