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Explain the major types of audit plans
Three major types of audit plans
Strategic -this the long term forward looking audit, it continually gets updated and identifies areas of audit importance.
Tactical - this looks at plans for the coming year, timetabling resource allocating and identifying main audit objectives taken from the strategic plan.
Operational -detailed audit programme for every specific audit.
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Examine the components of working capital & also explain the concepts of working capital.
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