Auditing Standards follows the same slic steps.

CONCEPT REVEW:

Although specific elements are required alang each step of an audit and will be varying and modified specific to each engagement, every audit goes through the same flue stoges: DObtain of Relain Engegement: $2)$ Engegerment Planning; $3)$ Risk Assessment: $4)$ Audit Evidence: $5)$ Roporting

Part $2-$ Concept Check

Audt $q,$ begins with determining the resurements for the enpapament.

$q,$ assessmant peocodures are perforthed when aboaring an understanding of the dont.

$q,$

Teats of contals are performed to dolemene whether key controls operate $q,.$

The final step of an oudt is losuing the oudt $q,.$

Next