Which of the following engagement planning procedures would most likely assist the auditor in identifying related-party transactions before the balance-sheet date?a. Interviewing internal auditors about their reporting responsibilities.b. Reviewing accounting records for recurring transactions occurring near year-end.c. Inspecting communications with the client’s legal counsel regarding recorded contingentliabilities.d. Scanning the minutes for significant transactions with members of the board of directors

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Audit Procedures

Audit Procedures are methods and techniques performed by the auditor to determine the quality of financial information of clients, thereby expressing an opinion on true & fair view of financial statements and entity position. They are identified and applied at the planning stage of audit after determining audit objectives, scope, approach, and risk assessment.