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As a Part of the Planning Process,auditors Develop an Audit

question 6

Essay

As a part of the planning process,auditors develop an audit strategy,an audit plan,and a time budget.
a.Describe an audit strategy and explain its purpose.
b.Describe an audit plan and explain its purpose.
c.Describe a time budget and explain its purpose.


Definitions:

Common Sense

A pamphlet written by Thomas Paine in 1776 advocating for the independence of the American colonies from Britain.

Authority to Tax

The legal and constitutional power granted to government entities to collect tariffs, duties, and taxes from individuals or organizations.

Elected Representative

An individual chosen through elections to act or speak on behalf of a larger group in a legislative or governmental capacity.

Parliament

A legislative body in a country that holds the authority to create laws and, often, to oversee the government.

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