Audit planning involves the development of an overall audit strategy that sets out the general direction and scope of the audit.

From this general strategy, a more detailed audit plan is developed that sets out the procedures to be carried out in the audit.

Adequate planning helps to ensure:

that appropriate attention is given to important areas of the audit,

that problems are identified properly, and

that work is completed expeditiously

Describe and explain the five (5) steps in planning an audit.