The Audit Process

Knowledge of Business
Determination of scope of work
Risks

PLAN
Audit Approach
Plan Audit Strategy

Materiality, Staff, Logistics, Time Table

Techniques for Ascertainment: Ascertain + Techniques for Recording:

- Inquiries Record - Flowchart
- Documentation Paragraph 12 - Organisation Chart
- Inspection of docs - Narrative Notes
- Observation - Checklists
- Previous experience with entity - Answers to ICQ
- Walk-Through Test
- Internal Control Questionnaire (ICQ)
Walk-Through Tests

Preliminary
ICEs - Internal Control Evaluation Ques
System
Evaluation

INEFFECTIVE EFFECTIVE

Compliance Test

Extensive
Substantive Tests Controls not applied Final System
Evaluation

Limited
Substantive Tests

Review,
Finalise &
Report
e of Business

stics, Time Table

ing:

Evaluation Questionnaire

Controls Applied