Explain audit planning and its importance. Add a simple flowchart.

**Audit planning** means deciding in advance **what**, **when**, **who**, and **how** the audit will be performed. It acts as the **roadmap** for the audit. ### **Objectives/importance** - Proper **time and staff allocation** - Focus on **high-risk areas** - Selection of suitable **audit procedures** - Better **coordination and supervision** - Reduction of **audit risk** and improvement in audit quality ```text Understand client → Risk & materiality → Plan procedures → Prepare programme → Perform & document → Report ``` Thus, planning makes audit efficient and effective.