Which of the following provides the best method of obtaining an understanding of a continuing client's...
Which of the following provides the best method of obtaining an understanding of a continuing client's business for planning an audit?
Multiple Choice
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Reading specialized industry journals.
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Reevaluating the client's internal control environment.
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Performing tests of details of transactions and balances.
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Reviewing prior year audit documentation and the permanent file for the client.
Homework Answers
Ans : Reviewing prior year audit documentation and the permanent file for the client.
This provides the best method of obtaining and understanding of a continuing client's business for planning an audit.
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