The audit budget when planning the audit

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Reference no: EM131208082

Samantha is a senior manager at a national CPA firm. She has recently taken over the planning responsibilities on her firm’s largest client, a midsize publicly traded company with multiple subsidiaries around North America. The client chose her firm primarily because of its cost efficiencies compared to those of larger firms. The client is publicly traded, so Samantha is planning an integrated audit as well as quarterly review work. Required: (a) How will each of the following concepts affect Samantha’s audit planning? (1) Nature (2) Timing (3) Extent (b) Should Samantha consider the audit budget when planning the audit? Explain, particularly addressing pressures to limit any audit procedures to keep the budget within an expected range.

(Hooks 270) Hooks, Karen L. Auditing and Assurance Services: Understanding the Integrated Audit, 1st Edition. Wiley, 03/2010. VitalBook file. The citation provided is a guideline. Please check each citation for accuracy before use.

Reference no: EM131208082

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