Accounting and Finance Foundations

Unit 13

Accounting and Finance Foundations Unit 13: Auditing 993

Auditing

Chapter 30

Student Assignment

Planning the Audit

Answer each of the following questions. Use a separate sheet of paper to record your responses.

1. What are the four typical stages of an audit?


2. During the planning and design stage of an audit, what do the auditor and company
   management identify?


3. Why should the auditor review the overall business environment of the company?


4. Instead of testing and reviewing all of a company’s transactions, an auditor typically
   tests a __.


5. What is the purpose of examining financial transactions?

30.2.1