What is involved in planning an audit?O a. Establish the engagement relationshipO b. Develop an internal control of the entityO C. Establishing the overall audit strategyO 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 controlO b. It shall be sufficient to enable employee to understand the internal controlO c It shall be sufficient to enable an experienced auditor to understand the audit proceduresO d. It shall be sufficient to enable auditor to understand the engagement letter

Auditors Responsibility is to plan the audit of financial statements so that it helps the auditor to…

Answered: n planning an audit?

Business

Accounting

n planning an audit?

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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Question

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

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