Auditor shall develop an audit plan that includes description of audit procedures. Specify requirements in this regard.

CA Intermediate · Auditing and Ethics · MTP · May 2024
Auditor shall develop an audit plan that includes description of audit procedures. Specify requirements in this regard.

Suggested Answer and Working Notes:

SA 300 states that auditor shall develop an audit plan that shall include description of- (i) The nature, timing and extent of planned risk assessment procedures (ii) The nature, timing and extent of planned further audit procedures at assertion level (iii) Other planned audit procedures that are required to be carried out so that the engagement complies with SAs.

Topics: Nature, Objective and Scope of Audit

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