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Help me connect the 5 "Audit" dots

Audit Strategy Audit Planning Audit Documentation Audit Evidence Audit Programme From what I understood by reading the book, first the auditor prepares an overall audit strategy, which in turn guides the development of a detailed audit plan, which includes a description of planned procedures (SA 315, SA 330, other procedures). Although these are different terms, they are very interrelated and not necessarily discrete or sequential processes. Audit plan is included in Audit Programme, which is designed to gather Audit Evidence. Audit Documentation is a record of all of the above activity for future reference and which safeguards him. Any basic I am missing?


Kumarjit Dey

Kumarjit Dey

CA Inter

4K+

10-Nov-20 19:53

15

Answers (4)

Best Answer

We cannot see these terms in silos. Each of the terms are related and dependent on one another. In theory you may arrange them in sequence but in practical life it is not sequential.


Suraj Lakhotia

Suraj Lakhotia

Admin

11-Nov-20 16:20

Another terminology containing "Audit" Audit File: which is a collection folder for all the audit documents, presumably.


Kumarjit Dey

Kumarjit Dey

CA Inter

4K+

10-Nov-20 20:26

The audit programme is to be formulated after understanding the internal controls. (Pg 4.27)


Kumarjit Dey

Kumarjit Dey

CA Inter

4K+

11-Nov-20 12:29

We cannot see these terms in silos. Each of the terms are related and dependent on one another. In theory you may arrange them in sequence but in practical life it is not sequential.

Ok Sir. Life has gotten so theoretical because of this upcoming examinations, forgot about practicality.


Kumarjit Dey

Kumarjit Dey

CA Inter

4K+

11-Nov-20 17:10

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