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Learning Objective 1. Discuss why adequate auditplanning is essential.. Planning. The work is to be adequately planned, andassistants, if any, are to be properly supervised.. Acceptable audit risk - SET. Inherent risk - ASSESSED. Planning an Audit and Designing an Approach. Accept client andperfo
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1. Audit Planning andAnalytical Procedures Chapter 8
2. Learning Objective 1
3. Planning
4. Planning an Audit and Designing an Approach
5. Planning an Audit and Designing an Approach
6. Learning Objective 2
7. Initial Audit Planning
8. Learning Objective 3
9. Understanding of the Clients Business and Industry
10. Industry and External Environment
11. Business Operationsand Processes
12. Management and Governance
13. Client Objectivesand Strategies
14. Measurement and Performance
15. Learning Objective 4
16. Assess Client Business Risk
17. The Clients Business, Risk, andAuditors Risk Assessment
18. Learning Objective 5
19. Preliminary Analytical Procedures
20. Examples of Planning Analytical Procedures
21. Learning Objective 6
22. Analytical Procedures
23. Timing and Purpose of Analytical Procedures
24. Timing and Purpose of Analytical Procedures 1. 1.
25. Timing and Purpose of Analytical Procedures
26. Learning Objective 7
27. Five Major Types ofAnalytical Procedures
28. Compare Clientand Industry Data
29. Compare Client Data With Similar Prior-period Data
30. Compare Client Data With Non-financial data
31. Learning Objective 8
32. Common Financial Ratios
33. Short-termDebt-paying Ability
34. Liquidity Activity Ratios
35. Ability to Meet Long-term Debt Obligation
36. End of Chapter 8