Question: Question 3 (20 marks) The International Standard on Auditing Statement ISA 300 gives guidance on audit planning. YOU ARE REQUIRED TO: i. Explain why it

Question 3 (20 marks) The International Standard on Auditing Statement ISA 300 gives guidance on audit planning. YOU ARE REQUIRED TO: i. Explain why it is necessary to plan an audit adequately. (10) ii. Indicate the more important matters the auditor should consider when obtaining knowledge of a new client company in order to plan the audit. (10)

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