The purpose of an audit strategy is
A) To provide a defense against litigation.
B) To gain an understanding of the client.
C) To comply with securities law.
D) To set the scope, timing, and direction for auditing each relevant assertion.

Question

Quizplus · Accepted Answer

The purpose of an audit strategy is to set the scope, timing, and direction for auditing each relevant assertion. This includes determining the appropriate audit procedures to be performed and the necessary resources needed for the audit. The other choices are not the primary purpose of an audit strategy.

The Purpose of an Audit Strategy Is