Which one of the following is not a key step in planning the audit?
A) Perform analytical procedures.
B) Consider audit risk.
C) Make preliminary judgments about materiality levels.
D) Develop preliminary audit strategies for significant assertions.
E) Obtain an understanding of the client's external controls.

Question

Quizplus · Accepted Answer

Obtaining an understanding of the client's external controls is not a key step in planning the audit. The focus is typically on the client's internal controls to assess risk and plan the audit approach. External controls, while they may impact the client, are not directly assessed or relied upon in the same way as internal controls during audit planning.

Which One of the Following Is Not a Key Step