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Describe what is meant by the cycle approach to auditing. What are the advantages of dividing the audit into different cycles?

Words: 49
Pages: 1
Subject: Accounting
  1. Describe what is meant by the cycle approach to auditing. What are the advantages of dividing the audit into different cycles?
  2. Define what is meant by a management assertion about financial statements. Describe how PCAOB assertions and assertions in international and AICPA auditing standards are similar and different.