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Part of planning an appropriate and effective audit strategy is for the auditor to determine...

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Accounting

Part of planning an appropriate and effective audit strategy is for the auditor to determine the nature, timing and extent of audit procedures to be performed. Which of the following choices is correct regarding the nature, timing and extent of audit procedures?
With respect to timing, accounts and assertions that are considered to be higher inherent risk are generally audited at the beginning of the engagement.
With respect to the extent of audit procedures, the quantity is typically increased for accounts and assertions considered to be of lower inherent risk.
With respect to the timing of audit phocedures, accounts and assertions that are considered to be higher risk are generally audited closer to the balance sheet date.
All of these statements are correct.
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