Before delving into the technical details of how to
plan, conduct and report on an audit it is useful to consider the objective of
an audit and the general principles which underlie the auditor’s work. Unless
this is fully understood the planning process
plan, conduct and report on an audit it is useful to consider the objective of
an audit and the general principles which underlie the auditor’s work. Unless
this is fully understood the planning process
may become a mere mechanical
exercise based on previous period’s audits perhaps. Instead, if the objective
and role of auditors is fully appreciated, the planning process can be directed
and unnecessary or ill-directed work avoided.
Thus section is based on ISA 200 ‘objectives and
general principles governing an audit of financial statements’.
general principles governing an audit of financial statements’.