CAF-8 · Chapter 3 · Question 9 of 10
During a first-year audit engagement, an auditor must perform additional planning procedures. Which of the following is a critical additional step?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Obtaining sufficient appropriate audit evidence regarding opening balances.
Explanation
In an initial audit, the auditor lacks past experience with the client and must ensure the opening balances (brought forward from the prior year) are not materially misstated.
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