Finalization
Timing: at the end of the audit
Purpose:
- To compile a report to management regarding any important matters that came to the auditor's attention during performance of the audit,
- To evaluate and review the audit evidence obtained, ensuring sufficient appropriate evidence was obtained for every material assertion and
- To consider the type of audit opinion that should be reported based on the audit evidence obtained.
Read more about this topic: Financial Audit, Stages of An Audit