Describes the purpose of preliminary planning

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Reference no: EM131134672

Which of the following BEST describes the purpose of preliminary planning:

To gain an understanding of detailed testing requirements such as sample sizes.

To formulate a preliminary assessment of the key risks and controls in the area under review in order to formulate the audit plan.

To provide management with a timeline of audit activity.

To determine and plan for substantive audit requirements.

Reference no: EM131134672

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