Audit Plan (1) Flashcards
1
Q
What is the audit plan? (detailed)
A
Converts the audit strategy into a more detailed map
2
Q
What is the audit plan? (procedures)
A
Includes the nature, timing and extent of audit procedures to be performed by engagement team members
3
Q
Purpose of audit plan?
A
Obtain sufficient appropriate audit evidence to reduce audit risk to acceptably low level
4
Q
What is included in audit plan (risk)
A
A description of nature, timing and extent of planned risk assessment procedures
5
Q
What is included in audit plan (assertion)
A
A description of nature, timing and extent of planned further audit procedures at the assertion level
6
Q
What is included in audit plan (ISA)
A
Other planned audit procedures required to be carried out for engagement to comply with ISAs
