Audit planning is an ongoing process where information gained as the audit is performed may result in changes to the plan.

Question

Quizplus · Accepted Answer

Audit planning is not a one-time event; it is an ongoing process that involves continuous information gathering and assessment. As the audit proceeds, the auditor may discover new information, risks, or opportunities that require changes to the audit plan. Therefore, the audit plan should be considered a flexible roadmap that guides the audit team's efforts and adapts to the circumstances encountered throughout the audit.

Audit Planning Is an Ongoing Process Where Information Gained as the Audit