at standard cost. Where relevant an annual review of the standard costs is carried out, although management has confirmed that it has not been necessary to revise any costing this year. Required: (a) ISA 300 Planning an Audit of Financial Statements sets out the auditor's responsibility to plan an audit of financial statements. Describe the objectives of planning the audit. (5 marks) (b) Identify and explain SIX DEFICIENCIES of the inventory count arrangements at All-parts, and provide a recommendation to address each of these deficiencies. Note: Prepare your answer using two columns headed 'Control deficiency' and 'Control recommendation' respectively. A covering letter is NOT required. (12 marks) (c) Describe THREE substantive procedures you would plan to perform in order to obtain sufficient appropriate evidence regarding the standard costing system used to value inventory