- Assessment of control risk and testing of internal control...
Assessment of control risk and testing of internal controls are the most important parts of the audit
"The overall objective of a financial statement audit is the
expression of an opinion on whether the entity's financial
statements give a true and fair view" - Cosserat (2000).
On a final point though, I would conclude by saying that the
planning of an audit which includes an assessment of control risk,
testing internal controls and an overall assessment of the audit
risk are extremely important as this sets the tone for that