Block 3a - Planning An Audit

Question 1

Audit strategy document

Question 2

Planning before year end

Question 3

Important areas

Question 4

Limited time

Question 5

Scope

Question 6

Client

Question 7

Applicable

Question 8

National/local/industry laws and regulations

Question 9

Corporate governance requirements

Question 10

Listed

Question 11

Professional behavior

Question 12

NOCLAR responsibilities

Question 13

Timing

Question 14

Timetable

Question 15

Monitoring

Question 16

Deadline

Question 17

Audit Report

Question 18

Interim audit

Question 19

Test of controls - understanding, documentation

Question 20

Direction

Question 21

Risky areas

Question 22

Analytical procedures

Question 23

Implausible relations

Question 24

Materiality

Question 25

Inverse Relationship

Question 26

Financial statements

Question 27

Resources

Question 28

Team

Question 29

Expert

Question 30

Specialized industry

Question 31

Complex accounting standards

Question 32

Competence (prior history)

Question 33

Audit plan

Question 34

Audit procedures

Question 35

Mitigate risk

Question 36

Confusion

Question 37

Sample size

Question 38

Appropriate

Question 39

Higher risk

Question 40

Line item

Question 41

Mandatory

Question 42

Fluctuations

Question 43

Static

Question 44

Comparison last year

Question 45

Industry average

Question 46

Budgets

Question 47

Previous auditor correspondence

Question 48

Modified reports

Question 49

Appointment discussion - expectations, deadlines, laws

Question 50

Thorough business understanding

Question 51

Opening balances, previously applied accounting policies

Question 52

Experienced team

Question 53

Detection risk