The audit strategy differs from the audit plan in that the strategy:

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Accepted Answer

Sets the scope, timing and direction of the audit. ISA 300 requires an overall audit strategy setting scope, timing and direction, from which the detailed audit plan of the nature, timing and extent of procedures is developed.

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A) Lists the detailed procedures to be performed

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B) Sets the scope, timing and direction of the audit

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C) Is prepared by the client

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D) Is issued to shareholders

The audit strategy differs from the audit plan in that the strategy:

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