audit opinion. Required Explain the meanings and practical application of the following procedures for obtsining audit evidence: i. Inspection ii. Observation iii. Inquiry iv. Confirmation v. Analytical review 15 marks b) Planning an Audit of Financial Statements (ISA300) provides guidance to auditors. Planning an audit involves establishing the overall audit strategy for the engagement and developing an audit plan. Adequate planning benefits the audit of financial statements in several ways, Required: Explain five importance of audit planning. 15 Marks b) Discuss the appointment of auditors under the companies Act 2019, Act 921 o marks