Audit Planning

Audit Planning

• ISA 300: Requires audit work to be planned for efficiency.

• Planning Objectives:
  • Obtain sufficient competent evidence.
  • Keep audit costs reasonable.
  • Avoid client misunderstandings.

• Key Considerations:
  • Staff needs, 
  • materiality, 
  • risks, 
  • laws, 
  • related parties, 
  • going concern, 
  • internal audit reliance, and 
  • audit strategy.