Question

15. Audit Plans should be based on knowledge of the client's –

(a) Profits (b) Net worth

(c) Business (d) Reputation​

Answer 1

Answer:

Buisness

hope it helps : ))))))

Answer 2

Answer: The answer is (D) Business.

Explanation: Audit plans should be based on the knowledge of the client's business because that helps the auditor identify the client's transactions and events that led to that financial information. It can be known from :

1. Annual Report to shareholders
2. Audit Working papers from the previous year
3. Employees doing non-audit services