a. ENTERPRISE RISK MANAGEMENT

√ Risk Planning Perform risk assessment procedures and identify risks

Determine audit strategy and identify critical accounting matters

Determine planned audit approach

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√ Evaluating Control Environment Understand accounting and reporting activities

Evaluate design and implementation of selected controls

Test operating effectiveness of selected controls

Assess control risk and risk of significant misstatement

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√ Plan substantive procedures

Perform substantive procedures

Consider if audit evidence is sufficient and appropriate

Conclude on critical accounting matter