The following scenario relates to questions 1 - 5 You are an audit senior of Ovette & Co and your firm has recently been appointed as the auditor to Bridgford Products (‘Bridgford’), a large company which sells televisions, DVD players and Blu-ray Disc players to electrical retailers. You are planning the audit for the year ended 31 January 20X9 and your audit manager has asked you to produce both the audit strategy document and the detailed audit plan. He has requested that you cover the following areas: (1) The availability of the client’s data and staff (including internal audit) (2) The allocation of responsibility for specific audit procedures to audit team members (3) The audit procedures to be undertaken for each area of the financial statements (4) The potential for using computer assisted audit techniques (CAATs) to gather evidence 1. Which of the following options correctly identifies the information that relates to the audit strategy and the detailed audit plan?
A.
Audit strategy:(1) and (2) Detailed audit plan:(3) and (4)
B.
Audit strategy: (1) and (4) Detailed audit plan:(2) and (3)
C.
Audit strategy: (2) and (4) Detailed audit plan:(1) and (3)
D.
Audit strategy:(1) only Detailed audit plan:(2), (3) and (4)