Audit Steps,

Hi I'm in an introduction to audit course and I'm having trouble putting the pieces together of what the audit steps are and why we do each step

Can you list the steps of the audit and explain the goal for each specifically the planning phase of the audit.

Why do we do risk assessments? What do we get from that that makes us decide whether or not we want to rely on internal controls or substantive testing for evidence.

I'm not sure what the evidence we are gathering is for.

In other words what is the goal of risk assessment and what are we gathering evidence for?

If you could explain that would be great!

Sorry I'm so disorganized, it's midterms week.

Thank you.