One of the considerations in establishing an audit strategy is?
A)significance of the audit engagement
B)reporting objectives,timing of the audit,and nature of communications
C)significant factors,post engagement activities,and knowledge gained on other engagements
D)nature,timing,and extent of testing

Question

Quizplus · Accepted Answer

The reporting objectives, timing of the audit, and nature of communications are important considerations in establishing an audit strategy because they determine the scope and focus of the audit. The significance of the audit engagement, significant factors, post-engagement activities, and knowledge gained on other engagements are also important considerations but are not as directly related to the development of the audit strategy as the ones listed in choice B. The nature, timing, and extent of testing are important considerations in carrying out the audit strategy, but not necessarily in establishing it.

One of the Considerations in Establishing an Audit Strategy Is