ACTIVITY PURPOSE DOCUMENTATION

1. Pre-angagement activities -Access Ethical and resource requirments. Determines the terms of the engagement -Budget vs Actual hours
-Code of Ethics
-Competency matrix
-Team Agreement
-Audit Angagement Letter

2. Strategic Planning -Understand the entity; identify and access risks. Develop an overall audit approach -Planning materiality
-Prior year's audit matters
-Laed schedule
-Preliminary analytical review
-Review of Internal audit
-Audit communication checklist
-Fraud checklist
-Internal control checklist (manual and IT)
-Going concern/Sustainability of services checklist
-Using the work of another Auditor
-Using the work of an expert
-Risks of material misstatement on financial statement level
-Overall audit strategy
-Engagement team discussion document

3. Detailed Planning -Understand the entity; identify and access risks.
-Detirmine an appropriate response to access risks. Identify nature and extent of audit tests -System description
-Reliance on key control
OR
-Audit programs
-Sampling

4. Audit fieldwork -Perform audit procedures identified -Evidence tracking sheet
-Lead schedule on component level
-Test of control
-Substantive audit procedures performance
-Substantive analytical procedures
-Disclosure checklist
-Management Representation letter
-Subsequent events
-Audit query
-Audit summary memorandum

5. Concluding reporting -Evaluate audit evidence
-Communicate to the auditee
-Compile audit opinion -Management letter
-Audit differences
-Audit repoting
-Matters for the attention during next year's audit
-Code of Ethics complince

6. Quality Evidencing -Quality control and evidencing throughuot audit -Quality control questionnaire