The following are parts of a typical audit of historical financial for a company with a calendar year-end of December 31.

1. Confirm accounts payable
2. Do tests of controls for the acquisition and payment and payroll and personnel cycles
3. Determine inherent risk
4. Do tests for review of subsequent events
5. Understand the clients business and industry

What is the in the sequential order in which you would expect them to be performed in a typical audit (from first to last)?

Group of answer choices

5, 3, 2, 1, 4

3, 5, 2, 1, 4

5, 3, 1, 2, 4

3, 5, 1, 4, 2

5, 3, 4, 2, 1