Question: An audit firm makes a decision to accept or continue a relationship with an audit client after evaluating the risk to the firm. Evaluating if

An audit firm makes a decision to accept or continue a relationship with an audit client after evaluating the risk to the firm. Evaluating if the firm is in compliance with ethical standards is part of which phase of the audit?

a) Risk assessment phase

b) Risk response phase

c) Reporting phase

d) It is not part of the acceptance or continuance decision process.

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