An audit plan consists solely of a methodology which directs the audit work and includes substantive testing.

Question

Quizplus · Accepted Answer

An audit plan is a comprehensive document outlining the scope of the audit, the objectives, the risks, the procedures to be followed, the timing, the staffing resources, and the expected deliverables. It includes both substantive and compliance testing, as well as reviews of internal controls and documentation.

An Audit Plan Consists Solely of a Methodology Which Directs