Planning stages of Audit

Question 1

Audit team discussion
(“brainstorming”)

Answer 1

Step 1

Question 2

Identify information necessary
to assess fraud risk factors

Answer 2

Step 2

Question 3

Identify and
b. Assess fraud risk factors

Answer 3

Step 3

Question 4

Evaluate audit evidence

Answer 4

Step 5

Question 5

Respond to risk assessment

Answer 5

Step 4

Question 6

Communicate fraud matters

Answer 6

Step 6

Question 7

Document fraud matters

Answer 7

Step 7