During the performance of an audit, which of the following are key considerations?
I. What sampling plans may be necessary?
II. Is the audit schedule progressing as planned?
III. Is there a need for a technical specialist?
IV. Is the level of compliance satisfactory?
During an audit, all the listed considerations are important. Sampling plans are necessary to ensure that the audit covers a representative portion of the data (I). Monitoring the progress of the audit schedule is crucial to stay on track and complete the audit in a timely manner (II). The need for a technical specialist may arise to provide expertise in specific areas (III). Evaluating the level of compliance is a fundamental part of the audit to ensure that the entity being audited adheres to the required standards and regulations (IV). Therefore, all four considerations are key during the performance of an audit.
Audit should be planned and compliance give according to observation, which is acceptable by auditors.