(CA Inter)Jan 27/Sep26

Which of the following is true regarding materiality?

The audit plan is more detailed that the overall audit strategy

A detailed audit programme once prepared for a business can be used for all business under all circumstances

Planning is discrete phase of an audit

Establishing an overall audit strategy that sets the scope, timing and direction of the audit and the guide the development of the audit plan is prerogative of the management

The establishment of overall audit strategy and the detailed audit plan are not necessarily discrete or sequential process but are closely inter related since change in one may result in consequential change to others

Which of the following is most important principal for formulation an audit plan

Which of the following is not advantage of an audit programme

Which of the following is not included in an audit programme normally

Which of the following is true about audit plan

Which of the following is not considered in planning an audit generally

Which of the following is benefits of planning

Planning an audit ensure that audit risk is reduced to an acceptable low level

SA 300 is planning an audit of financial statement

The auditor is not expected to and cannot, reduce audit risk to zero and cannot therefore obtain absolute assurance that the financial statement are free from material misstatements due to fraud or error