AUDIT PLANNING
The first generally audit standard of fieldwork requires adequate
planning. It states that "the work is to be adequately planned and if
assisted should be properly supervised. Size and complexity of the enterprise
affect the nature and form of planning. There is a Statement of Standard SAS
planning. In addition, SAS 210 knowledge of the business is relevant.
When adequate audit planning is embarked upon it will:
i.
Establishes the
intended means of achieving of the audit.
ii.
Assist in the
direction and control, of work
iii.
Helps to ensure,
that attention is devoted to critical aspects of the audit.
iv.
And helps to
ensure that the work is completely expeditiously.
REASON FOR AUDIT PLANNING
1. To enable the auditor to obtain sufficient competent evidence for the
circumstances.
2. To help keep audit costs reasonable i.e. by retaining its clients.
3. To have a good quality work
4. To facilitate audit work
5. To educate its staff members
AUDIT PLANNING COMMITTEE
Before starting audit each year, there is a need of auditor to have
regular meeting with client to discuss current and outstanding matter of
previous years management letters. Any specific audit points that have problems
should also be tackled.
No comments:
Post a Comment