AA – L2 – SA – Q1.5 – Audit Planning

Identify what is not considered at the audit planning stage.

Question

At the planning stage you would NOT consider:

A the timing of the audit

B whether corrections from the inventory count have been implemented

C last year’s audit

D the potential use of internal audit

Answer

Explanation:
Audit planning involves setting the timing of the audit (A), reviewing prior audits (C), and considering reliance on internal audit (D). However, checking whether inventory count corrections have been implemented (B) is a substantive procedure performed during fieldwork, not at the planning stage, which focuses on strategy and risk assessment. Thus, B is correct.

Tags: Audit Planning, ICAG, Internal Audit, Inventory Count
Level: Level 2

Topic: Planning and Approach for Audit and Assurance Engagements

Uploader: Salamat Hamid