Pr102: ASSURANCE &

AUDITING CONCEPTS &

APPLICATION
UNIT I: OVERVIEW OF AUDIT 12
High-Level Process
Client Auditor
Working Papers
Engagement Letter
PHASE I
Engagement Audit Strategy Accepting &
Letter Detailed Audit Continuing
Plan & Procedures Clients

Audit Audit Programs PHASE

Arrangement Time Budget
Letter Work Schedule Develop
Overall Audit
II
Assessed Risks Strategy

Management Develop
Representation Detailed Audit
Plan
Pr102: ASSURANCE &
AUDITING CONCEPTS &
APPLICATION
UNIT I: OVERVIEW OF AUDIT 13
High-Level Process – Developing an Overall Strategic Plan
CLIENT AUDITOR

1 OAS 4
ASM
Communicate Audit
Strategy & Plan to Prepare a Time
2 Budget
Client Identify the nature,
Meet with auditor to timing and extent of
discuss audit ASM audit procedures to
strategy and plan Time
be performed
Budget
DAP
Audit
schedule
3
Develop the initial
audit program

PHASE II
Audit
Programs
Pr102: ASSURANCE &
AUDITING CONCEPTS &
APPLICATION
UNIT I: OVERVIEW OF AUDIT

References:
Thank you!
Auditing and Assurance Concepts & Application, 2020-2021
Ed; Ma. Elenita B. Cabrera, Gilbert Anthony B. Cabrera; GIC
Enterprises & Co., Inc.; Manila, Philippines
PSAs 200, 210, 300, 315, 320
https://transportforthenorth.com/
https://www.template.net/
https://www.toppr.com/guides/accounting-and-auditing/tools-
of-auditing/audit-programme/