Mastering Audit Planning

<p>Knowledge about client’s accounting systems and policies, internal control procedures and coordinating the work to be performed</p> Signup and view all the answers

<p>By ensuring that the auditor covers different aspects of audit work in a systematic manner within a pre set time frame</p> Signup and view all the answers

<p>Audit planning is a process of deciding in advance what is to be done, who is to do it, how it is to be done and when it is to be done by the auditor in order to have efficient and effective completion of work.</p> Signup and view all the answers

<p>Audit planning can be done only when the auditor is having knowledge of the business of the client.</p> Signup and view all the answers

<p>Audit planning helps in the accomplishment of objectives of the audit and enables the auditor to cover different aspects of audit work in a systematic manner within a pre-set time frame.</p> Signup and view all the answers

<p>Audit plans should cover knowledge about client’s accounting systems and policies, internal control procedures, and coordinating the work to be performed.</p> Signup and view all the answers

<p>Audit plans should be flexible so that they can be developed or revised as and when required by the auditor.</p> Signup and view all the answers