- 1 Marks
Question
Audit …………….. is essential in every audit process as this reduces audit time and invariably the cost.
Answer
Planning
Explanation: Audit planning is crucial in the audit process as it helps identify key areas of focus, streamline the procedures, reduce unnecessary procedures, and ultimately lower both the time and cost associated with the audit.
- Tags: Audit Efficiency, Audit Process, Cost reduction, Planning, Time Management
- Level: Level 3
- Topic: Advanced Audit Planning and Strategy
- Series: NOV 2012
- Uploader: Dotse