Answered: Discuss the four components of the…

Discuss the four components of the knowledge audit process highlighting clearly the purpose of each component and the key activities that would occur within the respective components.

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter6: Audit Evidence

Section: Chapter Questions

Problem 25RQSC

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Discuss the four components of the knowledge audit process highlighting clearly the purpose of each component and the key activities that would occur within the respective components.

Definition Definition Methods and techniques used by the auditor to gather the appropriate evidence so that a true and fair judgment can be made on the quality of the financial statements of the client. Audit procedures are developed after determining audit objectives, scope, approach, and risk assessment.

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