Identification of risk factors is typically associated with what phase of the audit?
A)The risk assessment phase
B)The risk response phase
C)The reporting phase
D)The audit strategy phase

Question

Quizplus · Accepted Answer

Identification of risk factors is typically associated with the risk assessment phase of the audit, as this is when the auditor evaluates the client's internal control system and identifies risks that may impact the achievement of the audit objectives.

Identification of Risk Factors Is Typically Associated with What Phase