Setting materiality levels, assessing audit risk and its components and obtaining an understanding of the internal control structure are all part of which audit stage?
A) client evaluation.
B) audit planning.
C) collecting audit evidence
D) issuing the audit report.

Question

Quizplus · Accepted Answer

These activities are part of the audit planning stage, where auditors prepare for the audit by setting objectives, assessing risks, and understanding the client's internal controls to design their audit approach.

Setting Materiality Levels, Assessing Audit Risk and Its Components and Obtaining