What are the typical general components of an audit program? What purpose do these components serve? Which component is most important? Explain why.
The typical general components of an audit program are:
- Obtain (or retain) the engagement
- Engagement planning
- Risk assessment
- Audit Evidence
These general components lead an auditor to test for internal controls to lead them to a ...
The solution explains the purpose and importance of the 5 components most often found in an audit program. 154 words.