Which of the following should NOT be considered at the planning stage?
Correct answer: D. Obtaining written representations
- A. The timing of the audit
- B. Analytical review
- C. Last year's written representation letter
- D. Obtaining written representations
Explanation
Written representations are normally obtained near the end of the audit, usually dated the same day as the auditor's report. Timing, analytical review, and prior-year information can be considered during planning.
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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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