The purpose of planning an audit is to
A) conduct the audit in an efficient and effective manner.
B) reduce audit risk to an acceptably low level.
C) ensure that sufficient appropriate audit evidence is obtained to reach an appropriate audit opinion.
D) all of the above

Question

Quizplus · Accepted Answer

Planning an audit is a crucial step for auditors to achieve their audit objectives efficiently and effectively while minimizing audit risks. The planning phase includes developing an appropriate audit strategy, identifying risks and planning audit procedures to obtain sufficient appropriate audit evidence to reach an appropriate audit opinion. Therefore, all the options (A, B, and C) are correct, and the best choice is D, as it includes all the mentioned points.

The Purpose of Planning an Audit Is to