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    Auditing and Assurance Services Study Set 2
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    Exam 8: Audit Planning and Materiality
  5. Question
    There Are Three Primary Reasons for Obtaining a Thorough Understanding
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There Are Three Primary Reasons for Obtaining a Thorough Understanding

Question 32

Question 32

Essay

There are three primary reasons for obtaining a thorough understanding of the client's industry and external environment. What are these reasons?

Correct Answer:

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The three reasons are:
• Risks associate...

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