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  • Attempt The Following Three Questions:: Question One

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    aya ahmed
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    Audit planning is essential to identify risks, set materiality levels, and design appropriate audit procedures. Audit risk has three components - inherent, control, and detection risk. Audit documentation includes a current file containing work papers and a permanent file containing recurring client information to comply with standards and support the audit opinion.

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    Auditing mid semester exam November 2012

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    Audit planning is essential to identify risks, set materiality levels, and design appropriate audit procedures. Audit risk has three components - inherent, control, and detection risk. Audit documentation includes a current file containing work papers and a permanent file containing recurring client information to comply with standards and support the audit opinion.

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    6 views1 page

    Attempt The Following Three Questions:: Question One

    Uploaded by

    aya ahmed
    Audit planning is essential to identify risks, set materiality levels, and design appropriate audit procedures. Audit risk has three components - inherent, control, and detection risk. Audit documentation includes a current file containing work papers and a permanent file containing recurring client information to comply with standards and support the audit opinion.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 1

    Date: 12/11/2012 Time: 2 Hours

    Attempt the following three questions:


    Question one:-
    Discus why adequate audit planning is essential?

    Question two:-
    A-What is meant by the concept of materiality in auditing?

    B-Describe the audit risk and state its components.

    Question three:-
    What is audit documentation and what is kept in the current file and the permanent
    file?

    GOOD LUCK

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