Virtual Case Experience

Financial Audit
Model Work Task 2
Strategic Planning

The BAF and the annual financial statements provide a certain amount of known information about our client. But as an auditor you dive even
a bit deeper. We use internal and external sources to learn more about the client and his current situation:

Internal External
• Discussion with the management/CEO • Customer’s website

• Minutes of meetings of the Executive Board • Press articles

• Minutes of meetings of the Board of Directors • Industry associations and similar

• Inspection of the budget for the current year • Regulatory changes

• Inspection of bank and financing documents (covenants)

• Business plans for major (investment) projects

Virtual Case Experience Assurance Academy

PwC 2