Overall audit strategy
The overall audit strategy establishes the scope, timing and direction of an audit and guides development of the detailed plan. It considers reporting objectives, engagement characteristics, significant factors and resources.
Worked example
The engagement partner determines the group reporting deadline, key risk areas, staffing and involvement of specialists.
Common mistake
A strategy is broader than the detailed list of procedures in an audit plan.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | AA | Direct | September 2026–June 2027 |
| ACCA | AAA (INT) | Direct | September 2026–June 2027 |