Exact Auditors, CPAs, has just accepted an engagement to audit Procter & Gamble. Peter Bros has been selected as the in-charge auditor for the engagement, and Lucia Watkins will be his assistant. In planning the audit field work, Bros makes the following assignments of audit tasks:

Peter Bros	Lucia Watkins
Interim Audit
Test internal control over cash receipts	Audit property, plant, and equipment balances
Audit accounts receivable balances	Test internal control over cash disbursements
Final Audit
Test internal control over sales	Audit cash balances
Obtain signed copy of engagement letter	Audit inventory balances

Required:

a. Identify the steps to be followed in completing an audit.

b. What is meant by the term "systematic process" as contained in the definition of auditing?

c. Explain the strengths and weaknesses in Bros audit planning.