Every audit is unique, and specific procedures performed will vary based on the client, industry, and...

 

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Every audit is unique, and specific procedures performed will vary based on the client, industry, and people involved; however, every audit that is performed in accordance with Generally Accepted Auditing Standards follows the same six steps. Although specific elements are required along each step of an audit and will be varying and modified specific to each engagement, every audit goes through the same six phases: 1) Pianning the audit; 2) Obtaining an understanding of the client and its environment, including internal control; 3) Assessing the risks of misstatement and designing further audit procedures; 4) Performing further audit procedures; 5) Completing the auditing; and 6) Forming an opinion and issuing the audit report. ad the stages of an audit listed below and put them in the correct order. Obtain an understanding of the client and its Assess the risks of misstatement Complete the audit Form an opinion and issue the Perform further and design further audit Plan the Audit environment, audit procedures audit report including internal control procedures Reset Every audit is unique, and specific procedures performed will vary based on the client, industry, and people involved; however, every audit that is performed in accordance with Generally Accepted Auditing Standards follows the same six steps. Although specific elements are required along each step of an audit and will be varying and modified specific to each engagement, every audit goes through the same six phases: 1) Pianning the audit; 2) Obtaining an understanding of the client and its environment, including internal control; 3) Assessing the risks of misstatement and designing further audit procedures; 4) Performing further audit procedures; 5) Completing the auditing; and 6) Forming an opinion and issuing the audit report. ad the stages of an audit listed below and put them in the correct order. Obtain an understanding of the client and its Assess the risks of misstatement Complete the audit Form an opinion and issue the Perform further and design further audit Plan the Audit environment, audit procedures audit report including internal control procedures Reset

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The stages of an audit are reset and put in a proper and correct man... View the full answer