At the planning stage you would NOT consider____________?
Correct answer: B. whether corrections from the inventory count have been implemented
- A. the timing of the audit
- B. whether corrections from the inventory count have been implemented
- C. last year's audit
- D. the potential use of internal auditGet Study Guides
Explanation
Planning covers timing, prior-year audit information, and the possible use of internal audit. Checking whether inventory-count corrections were implemented is normally a later audit follow-up or completion matter.
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About Auditing
Auditing examines accounting records and financial statements to determine whether they present a reliable and fairly stated position. The subject covers audit objectives, internal controls, audit evidence, materiality, vouching, verification, working papers, auditor independence, audit reports, and the distinction between an audit and accounting or investigation.
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162 free Auditing MCQs from Accounting, each with the correct answer and an explanation. Unlimited attempts, no account needed.
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More Auditing questions
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Which of the following should NOT be considered at the planning stage?
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