The Final Phase of the Audit Involves _______

Multiple Choice

The final phase of the audit involves _______.

A) drawing conclusions based upon the evidence gathered and arriving at an opinion about the fair presentation of the financial statements
B) detailed testing of internal controls, transactions, account balances, and disclosures the auditors have determined to be at high risk of material misstatement
C) planning the audit by assessing risk to reduce audit risk to an acceptably low level
D) gaining an understanding of the client and identifying factors that may impact the risk of a material misstatement occurring in the financial statements