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Why audit planning is important to the audit process?

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Question added by Kenoni Tuipulotu
Date Posted: 2018/09/10
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MUHAMMAD MERAJ IQBAL SYED
by MUHAMMAD MERAJ IQBAL SYED , Logistic & Operational Manager , WAFRAH FOR INDUSTRY & DEVELOPMENT

The audit planning phase includes proceduressuch as gaining an understanding of the clients and its business, making risk and materiality assessments, determining an audit strategy. ... Audit planning is important because auditors should planand perform the audit to reduce audit risk.

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