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Exam AUD topic 1 question 430 discussion

Actual exam question from AICPA's AUD
Question #: 430
Topic #: 1
[All AUD Questions]

In developing an overall audit strategy, an auditor should consider:

  • A. Whether the allowance for sampling risk exceeds the achieved upper precision limit.
  • B. Findings from substantive tests performed at interim dates.
  • C. Whether the inquiry of the client's attorney identifies any litigation, claims, or assessments not disclosed in the financial statements.
  • D. Preliminary evaluations of materiality, audit risk, and internal control.
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Suggested Answer: D 🗳️
Choice "D" is correct. In developing an overall audit strategy, an auditor should consider preliminary evaluations of materiality, audit risk, and internal control.
Choice "A" is incorrect. Evaluation of results from sampling applications would be performed during fieldwork, after the planning process has been completed.
Choice "B" is incorrect. Findings from interim audit testing would be considered during fieldwork, after the planning process has been completed.
Choice "C" is incorrect. Inquiry of a client's attorney and evaluation of the attorney's response is performed during fieldwork, after the planning process has been completed.
by gemazyni at April 5, 2025, 4:38 p.m.

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