Audit planning is conducted at the beginning of the audit process to establish the overall audit strategy and detail the specific procedures to be carried out to implement the strategy and complete the audit. Briefly explain the steps in audit planning.

Audit planning is conducted at the beginning of the audit process to establish the overall audit strategy and detail the specific procedures to be carried out to implement the strategy and complete the audit. Briefly explain the steps in audit planning.

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter6: Audit Evidence

Section: Chapter Questions

Problem 20RQSC

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Question

Audit planning is conducted at the beginning of the audit process to establish the
overall audit strategy and detail the specific procedures to be carried out to implement
the strategy and complete the audit. Briefly explain the steps in audit planning.

Definition Definition Methods and techniques used by the auditor to gather the appropriate evidence so that a true and fair judgment can be made on the quality of the financial statements of the client. Audit procedures are developed after determining audit objectives, scope, approach, and risk assessment.

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