“In establishing the overall audit strategy, the auditor shall, among other considerations, ascertain the nature, timing and extent of resources…

In establishing the overall audit strategy, the auditor shall: (i) Identify the characteristics of the engagement that define its scope; (ii) Ascertain the reporting objectives of the engagement to plan the timing of the audit and the nature of the communications required; (iii) Consider the factors that, in the auditor's professional judgment, are significant in directing the engagement team's efforts; (iv) Consider the results of preliminary engagement activities and, where applicable, whether knowledge gained on other engagements performed by the engagement partner for the entity is relevant; and (v) Ascertain the nature, timing and extent of resources necessary to perform the engagement.