Week 2 - Why Plan? Flashcards
1
Q
What is the first reason to plan?
A
To establish overall strategy
2
Q
What is the second reason to plan?
A
Assess if resources are adequate and available
3
Q
What is the third reason to plan?
A
Give attention to important areas
4
Q
What is the fourth reason to plan?
A
Ensure process is efficient and effective
5
Q
What is the fifth reason to plan?
A
To develop the audit plan
6
Q
What does ISA300 do?
A
Sets out the requirements, including documenting the process
