The steps that an audit firm should take prior to accepting an audit engagement include all of the following except
A. Evaluating the integrity of the client's management.
B. Obtaining a sufficient understanding of the entity and its environment.
C. Evaluating independence.
D. Assessing the firm's competence to perform the audit.
Ans: D. Assessing the firm's competence to perform the audit.
Business
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Indicate whether the statement is true or false.
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In a Master Test Plan, method and attachments fall under which category?
A) Procedure Control B) Overall Plan C) Testing Requirements D) Component-Specific Test Plans
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