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Procedures for initial planning of financial statement audit

Which of the following procedures would an auditor most likely include in the initial planning of a financial statement audit?

a) obtaining a written representation letter from the client's management

b) examining documents to detect illegal acts having a material effect on the financial statements

c) considering whether the client's accounting estimates are reasonable in the circumstances

d) determining the extent of involvement of the client's internal auditors

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d) determining the extent of involvement of the client's internal auditors

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This solution provides the correct answer with explanation to the following multiple choice practice question:

Which of the following procedures would an auditor most likely include in the initial planning of a financial statement audit?

a) obtaining a written representation letter from the client's management

b) examining documents to detect illegal acts having a material effect on the financial statements

c) considering whether the client's accounting estimates are reasonable in the circumstances

d) determining the extent of involvement of the client's internal auditors

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