Multiple Choice
An experienced audit team will begin planning the audit before it knows all the specific information about a particular client company because
A) experienced auditors know the general framework of what needs to be done on any audit.
B) auditors experienced in the client's industry understand the activities and risks of the industry, which gives them an understanding of the important financial statement accounts and ICFR areas.
C) auditors experienced with this client company have already gained quite a bit of information from the client acceptance or continuance processes.
D) all of the above
Correct Answer:

Verified
Correct Answer:
Verified
Q38: Which of the following would not be
Q39: An audit strategy will focus on going
Q40: A highly effective audit would have all
Q41: An example of an opportunity for misappropriation
Q42: Which of the following items would an
Q44: Risk assessment points the auditor to the
Q45: Which of the following is not an
Q46: Preliminary time budget information is compared to
Q47: Which of the following would not be
Q48: An internal control that is ineffective to