Question

In the engagement planning phase, the scope of an internal audit engagement is defined by?

Answer 1

In the planning phase, the scope of an internal audit engagement is defined by the Engagement objectives.

What is engagement planning in auditing?

Planning internal audit engagements involves considering the strategies and objectives of the area or process under review, prioritizing the risks relevant to the engagement, determining the engagement objectives and scope, and documenting the approach.

Which is the 4 steps in accepting an audit engagement?

Steps of an Audit Engagement -

• Pre-Engagement Activities in Auditing. Prior to actually beginning an audit, there are several important steps.
• Audit Engagement Process. Once the auditor has been formally retained by the client, substantive audit planning can begin.
• Role of Fieldwork.
• Concluding the Engagement.

To learn more about Audit engagement from given link

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