The final phase of an audit is to assess all of the audit evidence obtained and determine whether it is sufficient and appropriate.

Question

Quizplus · Accepted Answer

This statement is true. The final phase of an audit is called the audit conclusion, and it involves evaluating all of the audit evidence gathered to determine whether it supports the auditor's opinion on the financial statements. The auditor must assess the quality and quantity of the evidence obtained and determine whether it is sufficient and appropriate to support the conclusions drawn.

The Final Phase of an Audit Is to Assess All