Explain briefly the importance of each of the following as risk assessment procedures: (i) Touring the client's

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Explain briefly the importance of each of the following as risk assessment procedures:

(i) Touring the client's premises

(ii) Reading trade journals and magazines

(iii) Reviewing the client's documentation

(iv) Reviewing prior years’ audit working papers and drawing on past experience with the client

(v) Discussion among engagement team members

Related Book For answer-question

Personal Financial Planning

ISBN: 978-1111971632

13th edition

Authors: Lawrence J. Gitman, Michael D. Joehnk, Randy Billingsley

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Posted Date: Aug 24, 2018 12:52 AM

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Explain briefly the importance of each of the following as risk assessment procedures: (i) Touring the client's

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Expert Answer:

i Ensures direct observation which could help in id... View the full answer

Personal Financial Planning

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