FIGURE 6-1 Steps to Develop Audit Objectives Understand objectives and responsibilities for the audit Divide financial statements into cycles Know management assertions a bout accounts Know specific audit cuves for Know general audit classes of objectives for transactions and classes of accounts transactions and accounts @2000 Prentice Hall. InArens, Loebbecke; Auditing, 8/E ©2000 Prentice Hall, Inc. FIGURE 6-1 Steps to Develop Audit Objectives Understand objectives and responsibilities for the audit Divide financial statements into cycles Know management assertions about accounts Know general audit objectives for classes of transactions and accounts Know specific audit objectives for classes of transactions and accounts 1 2 3 4 5