In designing a written audit plan, an auditor should establish specific audit objectives that relate primarily to the:

Question

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Choice "D" is correct. In designing a written audit plan, an auditor should establish specific audit objectives that relate primarily to the financial statement assertions. Choice "A" is incorrect. Although the timing of audit procedures is an important consideration in designing a written audit plan, obtaining audit evidence relating to the financial statement assertions is the primary objective. Choice "B" is incorrect. The cost-benefit of gathering evidence is an important consideration in establishing a written audit plan, but audit objectives are not based on such considerations. Choice "C" is incorrect. The specific audit objectives should relate primarily to financial statement assertions. Selected audit techniques are then developed in order to meet the identified objectives.

In Designing a Written Audit Plan, an Auditor Should Establish