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question archive the following are variousactivities an auditor carries out during audit planning

the following are variousactivities an auditor carries out during audit planning

Subject:AccountingPrice: Bought3

the following are variousactivities an auditor carries out during audit planning.1. send an engagement letter to the client2. tour the client’s plants and offices3. compare key ratios for the company with thise of industry competitiors4. review management’s risk management conls and procedures5. indentify potential related parities that may require disclosure6. review the company’s constitution7. identify whether any experts are required for the engagement8. review accounting principles unique to the client’s industry9. determine the likely users of the financial statementsrequired:for each procedure, indicate which of the first four parts of audit planning the procedure primarily relates to (1) accept client and perform initial audit planning. (2) understand the client’s business and industry. (3) assess client business risk; and (4) perform preliminary analytical procedudres

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