1. Which of the following accurately describes the audit plan? (Several choices may be correct.)

Documents the nature, timing and extent of testing required

Includes a detailed listing of audit procedures to be performed

Once completed, the audit plan does not change

Impacted by the level of detection risk

Developed before the auditor gains an understanding of the client and its business

2.From the list of assertions provided below, which seven assertions about presentation and disclosure would typically impact the financial statements? Select the seven assertions by selcting "X" in drop-down option. List of assertions:

Completeness

Accuracy

Cur-off

Rights and obligations

Understandability

Valuation

Occurrence

Existence

Classification