Week 2 - Benefits of Planning

Question 1

What are the first 2 benefits of planning?

Answer 1

• Helps the auditor to devote attention to important areas of the audit
• Helps the auditor identify and resolve potential problems

Question 2

What are the second 2 benefits of planning?

Answer 2

• Helps organise and manage the audit so that it is performed in an effective and efficient manner
• Assists in the selection of team members with the right skills and competence, and in the assignment of work to them

Question 3

What are the final 3 benefits of planning?

Answer 3

• Facilitates the direction and supervision of team members and the review of their work
• Assists, where relevant, where the work needs to be co-ordinated with professionals
• Helps in the assessment of risks