course material

1. Explain the five elements that are part of a strategic
TASK1.Identify the eight major steps in planning audits.2. What factors should an auditor
consider prior to accepting an engagement?3. Explain the five elements that are part of a
strategic understanding of the client’s businessApply the concept of materiality to the
auditMake a preliminary judgment about what amounts to consider materialDetermine
performance materiality during audit planning