audit question

IMPORTANT QUESTIONS Q. No. 45: Comment on the following in relation to Sas: "Auditor shall establish an overall strategy that sets the scope, timing and direction of the audit, and that guides the development of the audit plan". HINT: Refer the topic "Establishing Audit Strategy". Q. No. 46: Briefly discuss the following statements in view of SA 300 Planning an Audit of Financial Statements": (a) For an initial audit, the auditor may need to expand the planning activities. (b) Audit planning is not a discrete phase but a continuous phase. HINT: Refer the topic (a) "Additional Considerations in Initial Audit Engagements" and (b) Planning - A Continuous Process. in Tho udit nlan: and (iii) An