cables (Proprietary) Limited was formed .5 years ago by its current managing
director Peter Jones. Cables (Proprietary) L -rred has 15 members (all of whom are
individuals) and Pete is the majority shareicider. ……….

Listed below under “X” are the flrst parts of te” sentences. Listed under “Y” are the
second parts of each of these sentences. When the parts (A and B) are combined a
complete and correct statement is made….

ISA 315 _ ldentifying and assessi.ng the risks of male. a _ SS:a:3ment through
understanding the entity and its environment, states:^ai ine a-clicr should obtain an
understanding of the entity and its environment. lt is a- i:’octant statement in the
planning of the audit.
1. What is the auditor’s overall objective of gaining an ‘:rce:standlng of the entity
\z) and its environment?