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If the question is
“Explain the importance of audit planning” – 5marks
And my answer is:
1.It helps the auditor to devote appropriate attention to important areas of the audit.
2.It helps the auditor to identify and resolve potential problems on a timely basis.
3.It helps the auditor to properly organise and manage the audit engagement so that it is performed in an effective and efficient manner.
4.It assists in the selection of engagement team members with appropriate levels of capabilities and competence to respond to anticipated risks and the proper assignment of work to them.
5.It facilitates the direction and supervision of engagement team members and the review of their work.Can I get full marks of 5marks..Or do I need further explain more for each point?