What is a top down approach to planning an audit What are the steps How does this approach link the financial statements to ultimate audit program steps Why does AS 5 direct the auditor to use this approach in assessing materiality ...

A top down approach is intended to maximize audit efficiency by focusing the auditors attention on t ...

What is a top down approach to planning an audit? What are the steps? How does this

Question:

What is a top down approach to planning an audit? What are the steps? How does this approach link the to ultimate audit program steps? Why does AS 5 direct the auditor to use this approach in assessing materiality?

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...