be. dismissed wih engag emer} pertuer vill be disused with the engage sring on overall out shaban. aches is isk as fyllows ots hecbea He Goll cl seth a oudd sha bewy, the following is discussed vath the Saturday engagement partner é 1 & Seturday Engagement purine 19 Sunday Tang and Direchon of the audd ding avd plan, the Lllow ng ts discussed vith the Ting and Erlend of the planned cudd procedures Planned cweld prvedures include 0) Planned nsle assessment proceds es | and h} Plarnced fi ther cued Piucedu res ‘Scanned wih CamScannerZU nosey, SS ICAP QB #38 ; a) Difference bebween audit sbabea ond deluded audit lan Auclit Shadeg 4 ’ Audit plon Aud sheteg sel$ the Budd plan hueghleg hb the cveratl approach of the add poceclures be done in an 1.0. eect nll lore cludd ie. how an audad is what dhings are by be done to be clone. I4 dowiments 9 Gn audit and quides fhe nabre, tinteg gnk the auddor in the develo pred exert cf overall audit of an aud plan. < preedures and is more dedaled than arr ud i Di Pesey sbelegy. b) Addtbunal Gnsiderations in inal Audi ein acjeinents For an mbal coat, the auditor m med 4d expand the planning activities because the auddor dees net have the previous eepenence with the entihy that 5 considered wrhen planning vecuring quit engagements for an wer nbalaodd, additonal matlers thal the aucl br may conscle- uvhle establishing the overall aud shateey ancl sled indude the flloveey —! Tl + Arrangemerts to be made wirth dhe predecessor aucliter, + Ang major ssues discussed wth the manceement and communcated ty those charged with cqovernun ce. C «The audit procedures necessary fe obtain Sufficient, Approprale, Audit Evidence sgaedny open ng bulances ‘Scanned wih CamScanner29 Wednesday * Other precedes required by the audit fem's system of quellby comb Spring 2014 —Prebeeee ; Lechmnay eng ag emenl ach 7es tli muncesiy engagement aciaties ove a set of eactutbes performed befre Ah uel emgacemen t They include L Chant conbauame paledves; © + Eyaluation A compbance vedh ethical reapevrements ; and . Un derstanding of the terms of the engagement. 2 3 Thursday O 23 snavan 2. Plenning ardtivdies Planning cxbivibes in en audht involve: + Establishing an overull audil she (he. scope, timing and extend of he cud) “i : Develo ing a debuted cud plan. (ie. the nature, Liming and extent of planned cudrt prowedurés). ‘Scanned wih CamScanner| ACCA FS (December ov) planning t- plan is a means to acheve the ohyechves fan auld effient and effectively. Plarm ne an auch? involves risk assessined whch of bs the amour of audit work performed a general: and the areus om ehch the audl-bor wall focus his cllerbon Ddequcke planning benefls the audit by Devetog appepsale attention ty inparkond creas of cull : Sdeoify “4 and resolving polenbal peblens on a Hmel bass ina ancl man 49°°4 auld im em effective ond Moient manner » Approprale seleckon ree 25 Soiurday 26 Sunday © Alloway & the direckion and sypervision of shelf and eviews of thee viork. » Gordinabion of werk done by aedstow of aliffered componer's ard experts27 Ney Achinn Loos (3 (6) } Matters discussel_im_aucl|_s balea and—aueli plan Ghulam the engaged tat telah se re Ault Shadecy, The fillowng "matters are discussed in an cuclh shu Characd f the _engacremernl th * Pppticable fnanceal reportin fame vvorle 7 Jnclusbry specike veportin claviveme hs + Use of “sabernal auclitoe’s vrork , Af an "Reporting aureney , including need for currency bensladien Audt tf consolidated fnunual Statements, EFleA of IT on cud procedures, inclu din 4 computer essisteel 28 le day ous id lebnieyues L May: ines_its Scope + Estublshing reporbng deadlines; nel The nature of the communicabons required 3 Eeachocs test cure significant in dlcedin g.dhe mana eorerts. beam efforts — - Mates thresholds . Haj risk arcos of the audil . Auch approach . Pre ia! recent developments in relation to the erbly, the indusdy, legal enviconment or financial reportin rey uirernents Fcc st oe erect tb iderbhy required Py applicable franc al rep orth awe) prepare dlixlosures ng fume work d ‘Scanned wih CamScanner4 Resulls of pre liminary audd engacgemen’ achwities and lenow led ye ained on othe engduemerts Ly the enbt Nak ee i { uses! necesssny porto men engauement whee more expenenced members of stuff mus be needed “When the resources ave needed + The number of stiff fo be allocated bo speahe areas ~ Hows to dhech supese and review resources donng an aud Du plas é n The Elhvng metles are discussed im an cielt plan 1 Nabe bring and extent of Rul Assesment Procedures Tha 3.0) Thursday wddes asesincrl of Risk OF Maternal Misstalements SePamaeen Et both nsk and assertion levels 2. Natwe, Hing and extent of Futher Auct Dacedures ot ssc bun level te fe euch over of Faamcedl slalements This includes : a Test of conbols b) Subshunbve jucedues ‘Scanned wih CamScannerO1 fiey. “ Sping 2018 (Q7) rely (or ing wor le cross inlenm and inal coud t © More flevible resoure planning vyithin the fr m * Eurher adenbGcdion of stgnhGenl matters + Earle publication of audited cao unts * Thoeosed audi efficienas ICMA (Fall 2017) Dilferences Between Inlerim and Final Audd interim Audit Final Aube This performed befre the lis peti afler the encl ot the auvunbrg period end of the accourbny pencd t° 3k t 02 Saturday when draft onan $nancial shake: cue available and includ@ Lull year 4 halances Peiod of Lrul audi 6 much longer and involves the vehole audit Leam. System assessment work andl Testing of eins of stdemert frnsachon testing 1s corded out of Snancial position dukes at interim aud? place at final audi doy 2. The interim audit worle is pecormed by fevrer and more senior staff. 3 ‘Scanned wih CamScanner