Audit. Preliminary audit plan (most important)

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Audit. Preliminary audit plan (most important)

Lecture notes, cheat sheets

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17. PRELIMINARY AUDIT PLAN

At the preliminary planning stage, the auditor should become familiar with the financial and economic activities of the economic entity and have information about external and internal factors affecting its activities. The auditor should also be familiar with the following elements of the organization's life:

1) organizational and managerial structure of the economic entity;

2) types of production activities and the range of products;

3) capital structure and share price (if the shares of an economic entity are subject to quotation);

4) technological features of production;

5) level of profitability;

6) the main buyers and suppliers of the economic entity;

7) the procedure for distributing profits remaining at the disposal of the organization;

8) the existence of subsidiaries and affiliates;

9) the system of internal control organized by the economic entity;

10) principles of personnel remuneration formation.

Information sources:

1) charter of an economic entity;

2) documents on registration of an economic entity;

3) minutes of meetings of the board of directors, meetings of shareholders or other similar management bodies of an economic entity;

4) documents regulating the accounting policy of an economic entity and making changes to it;

5) financial statements;

6) statistical reporting;

7) planning documents for the activities of an economic entity (plans, estimates, projects);

8) contracts, agreements, agreements of an economic entity;

9) internal reports of auditors-consultants;

10) internal instructions;

11) materials of tax audits;

12) materials of judicial and arbitration claims;

13) documents regulating the production and organizational structure of an economic entity, a list of its branches and subsidiaries;

14) information obtained from conversations with the management and executive personnel of the economic entity;

15) information obtained during the inspection of the economic entity, its main sections, warehouses.

At the stage of preliminary planning, the audit organization evaluates the possibility of conducting an audit. If the audit organization considers it possible to conduct an audit, it proceeds to the formation of staff for the audit and concludes an agreement with an economic entity. When planning the composition of specialists included in the audit team, the audit organization must take into account:

1) working time budget for each stage of the audit - preparatory, main and final;

2) expected time frame for the group;

3) the quantitative composition of the group;

4) position level of group members;

5) succession of group personnel;

6) qualification level of group members.

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