audit approach

The strategy for an audit, or the manner of conducting an audit. Deciding a suitable audit approach is an essential part of the *audit planning process, and a common decision is the balance to be adopted between *compliance and *substantive testing. An audit approach is often determined by, among other factors, (i) the nature of the *auditee, (ii) the time available for the audit, (iii) the level of cooperation of the *auditee, and (iv) the sophistication of systems of *internal control. See also *"black box" audit approach.

Auditor's dictionary. 2014.

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