Which of the following factors would a CPA ordinarily consider in the planning stage of an audit engagement?

1. financial statement accounts likely to contain a misstatement

2. conditions that require extension of audit tests

Question

Carissa Fritz

Business

14 March, 23:19

Which of the following factors would a CPA ordinarily consider in the planning stage of an audit engagement?

1. financial statement accounts likely to contain a misstatement

2. conditions that require extension of audit tests

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Answers (1)

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Jacobson · Answer 1

Both

Explanation:

The factors that a CPA ordinarily consider in the planning stage of an audit engagement are both of the given statements as we know, a substance misstatement is a piece of information in the financial statements that is sufficiently inaccurate that it may influence the financial choices of someone relying on these observations. The first objective of substantive analytic methods is to obtain self-reliance, in combination including different audit testing (such as tests of powers including substantive tests concerning details), including admiration to financial statement affirmations for 1 either more further audit areas.

Which of the following factors would a CPA ordinarily consider in the planning stage of an audit engagement?1. financial statement accounts likely to contain a misstatement2. conditions that require extension of audit tests

Which of the following factors would a CPA ordinarily consider in the planning stage of an audit engagement?

1. financial statement accounts likely to contain a misstatement

2. conditions that require extension of audit tests