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An auditor is required to obtain an understanding of the entitys business, including cycles and reasons for business fluctuations. What is the audit purpose most
- An auditor is required to obtain an understanding of the entitys business, including cycles and reasons for business fluctuations. What is the audit purpose most directly served by obtaining this understanding?
a-To follow quality-control standards.
2-To enable the auditor to accurately identify significant deficiencies in internal control.
3-To identify areas of highest risk in the audit.
4-To decide whether it will be necessary to perform analytical procedures.
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