Advanced Auditing --> Internal Controls

What is Audit Planning?

Any activity undertaken without a plan is bound to be ineffective, in auditing, planning involves developing an overall plan for expected scope and conduct of audit and developing an audit programme showing the nature, timing and extent of audit procedures. Planning is a continuous procedure and plans may have to be revised in the light of changes in circumstances, as the audit proceeds. Thus plans should cover the following areas:

i. Acquiring knowledge of the client’s business, accounting system and related internal controls.
ii. Establishing expected degree of reliance on the internal controls.
iii. Determining the nature, timing and extent of audit procedures.
iv. Coordinating the work to be performed.

Topics covered in Audit Planning Assignment Help:

1. Audit Programme
2. Audit Techniques
3. Materility in Auditing
4. Statistical Sampling
5. Audit Risk
6. Designing and Audit Strategy

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