Dear Students,

Relative to your project in Internal Auditing class (Accounting 11), herewith are the general instructions
for you to follow;

1. Letter of Request should be forwarded to your chosen Auditee the soonest possible. The
Manager/Proprietor must affix its signature indicating the date of approval with remark
“Approved”. The Scanned copy of approved letter of request must be forwarded to
terence.marquez@sfc.edu.ph on or before 5:00 in the afternoon on October 27, 2022.

FILE NAME: Eg: A11AA:Group_1-Letter of Request

Email Subject: Letter of Request

2. It is expected that your process understanding should start immediately upon the approval of the
Manager / Owner. The documentation, in whatever form, must be submitted on or before 5:00 in
the afternoon on November 10, 2022 thru my email at terence.marquez@sfc.edu.ph.

FILE NAME: Eg: A11AA:Group_1-Process Understanding

Email Subject: Process Understanding

3. Risk identification and assessment must be undertaken based on your process understanding
followed by determining the audit objectives (at least three).

4. Internal Audit Engagement Letter should be prepared and send to me thru my email at
terence.marquez@sfc.edu.ph for initial review. Once reviewed, it must be discussed with your
auditee. Any revisions must be documented in the revised engagement contract, if any.

The approved engagement letter must be signed by the Manager / Proprietor with date of
approval with remark “Approved”. Final copy must be scanned and to be sent in my email.
Deadline will be November 18, 2022, on or before 5:00 in the afternoon.

FILE NAME: Eg: A11AA:Group_1_Engagement Letter

Email Subject: Eg: Engagement Letter

5. Finally, Audit Engagement Planning Memorandum must be prepared by the group and for
submission, on or before November 30, 2022 on or before 5:00 in the afternoon.

FILE NAME: Eg: A11AA:Group_1_Planning Memo

Email Subject: Planning Memo

***Documents submitted need to be reviewed thoroughly, free from error and complied with the formats
provided. Your strict compliance with all the deadlines is expected. Thank you and Goodluck.