In planning an audit, the auditor first established the audit plan then develop the audit strategy for the engagement.Group of answer choicesTrueFalse

Identify and describe the contents of the overall audit strategy and audit plan.

As the audit client grows throughout the years, the auditor may update and revise the audit strategy and audit plan used in the prior years of the engagement.Group of answer choicesTrueFalse

When preparing the audit plan, the auditor must ensure that they acquired significant understanding of the entity, its environment, and its internal controls.Group of answer choicesTrueFalse

The auditor shall document the overall audit strategy, the audit plan and any significant changes made during the audit engagement to the overall audit strategy or the audit plan, and the reasons for such changes.Select one:TrueFalse

The audit plan contributes to the efficiency of the audit and helps to increase the audit risk to an acceptably low level.Group of answer choicesTrueFalse