What are the phases of auditing? Arrange the following in the correct sequence, beginning with the first phase. Assign a number to each step

Step 1: Understand the typical phases of an audit process. An audit generally follows a structured approach to ensure thoroughness and effectiveness. The phases typically include planning, execution, reporting, and follow-up. Step 2: Match the given options to the standard audit phases. • Audit preparations: This involves defining the audit objectives, scope, criteria, selecting the audit team, and developing the audit plan. This is the initial planning stage. • Audit proceedings: This is the execution phase where the audit activities are carried out, such as gathering information, conducting interviews, and collecting evidence. • Audit reporting: After the audit proceedings, the findings are documented, and an audit report is prepared and communicated to the auditee. • Audit follow-up and closure: This final phase involves verifying the implementation of corrective actions based on the audit findings and formally closing the audit. Step 3: Arrange the phases in the correct sequence. Based on the standard audit process, the correct sequence is: 1. Audit preparations 2. Audit proceedings 3. Audit reporting 4. Audit follow-up and closure The given options are already in the correct order. Here is the correct sequence: 1. Audit preparations 2. Audit proceedings 3. Audit reporting 4. Audit follow-up and closure Send me the next one 📸