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Question 1111 - CISA discussion

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Which of the following is the PRIMARY basis on which audit objectives are established?

A.
Audit risk
Answers
A.
Audit risk
B.
Consideration of risks
Answers
B.
Consideration of risks
C.
Assessment of prior audits
Answers
C.
Assessment of prior audits
D.
Business strategy
Answers
D.
Business strategy
Suggested answer: B

Explanation:

The primary basis on which audit objectives are established is the consideration of risks12.This involves identifying and assessing the risks that could prevent the organization from achieving its objectives12.The audit objectives are then designed to address these risks and provide assurance that the organization's controls are effective in managing them12.While audit risk, assessment of prior audits, and business strategy are important factors in the audit process, they are secondary to the fundamental requirement of considering risks12.

Objectives of Auditing - Primary and Secondary Objectives of Auditing | Auditing Management Notes

Audit Objectives | Primary and Subsidiary Audit Objectives - EDUCBA

asked 18/09/2024
55 Cantera Ct. Johnson
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