1. The third standard of fieldwork states that sufficient competent evidential matter may, in part, be obtained through inspection, observation, inquiries, and confirmations, to afford a reasonable basis for an opinion regarding the financial statements under examination. The evidential matter required by this standard may, in part, be obtained through a) Analytical procedures. b) Auditor working papers. c) Review of the internal control. d) Proper planning of the audit engagement. Answer A is correct. The requirement is to determine which of the listed answers is included in the third fieldwork standard that specifies the need to obtain sufficient competent evidential matter during an audit. Evidential matter required by the third fieldwork standard is obtained through two general classes of auditing procedures: (1) tests of details of transactions and balances and (2) analytical procedures applied to financial information. Answer B is incorrect because working papers
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