Chp06

Audit Planning Decide whether or not to accept the prospective client Obtain knowledge of client’s business and industry Make preliminary arrangements with the client Prepare the engagement letter Prepare the audit plan, preliminary program, and time budget

Obtaining Clients Deciding Whether to Accept Clients ,[object Object],[object Object],[object Object],[object Object],[object Object]

Obtaining Clients Communications with Predecessor Auditor ,[object Object],[object Object],[object Object],[object Object]

Engagement Letters Responsibilities of Each Party ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Engagement Letters Other Items ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Understanding the Client’s Business ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Understanding the Client’s Business Basic Strategy ,[object Object],[object Object],[object Object],[object Object]

Relationship Between Strategy and Financial Statement Results ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Materiality ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Materiality Allocating Overall Materiality ,[object Object],[object Object],[object Object]

Materiality Qualitative Considerations ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Assessing Fraud Risks ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Assessing Fraud Risks—Identifying Fraud Risks ,[object Object],[object Object],[object Object],[object Object],[object Object]

Responding to Fraud Risks ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Consideration of Fraud Throughout the Audit ,[object Object],[object Object],[object Object],[object Object]

Audit Plans ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Audit Programs ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

The Audit Trail Direction of Audit Testing Start Finish Test for Completeness Finish Start Test for Existence Source Documents Journals Ledgers

Timing of Audit Work ,[object Object],[object Object],[object Object],[object Object]

Chp06

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Chp06

Editor's Notes