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Audit plan

Audit strategy
-Liaise with management in order to plan the timing of systems testing to be carried out, possibly
when it is convenient for .
-Increase the number of team members assigned to .
-The audit team must include persons with a good level of . knowledge in order to assist on the
audit
-Use an .. specialists to assist in the ..
-Increase the audit fee budget for involvement of firms specialists to assist in this years audit and
additional audit procedures arising from .
-The use of CAATS may also need to be discussed with management, i.e. the auditors request to
.
-Allocate more audit budget in hours to .
-Providing more supervision as a result of .
-Complete engagement quality control reviews for.
-The extent of review of other auditors work in the case of group audits
-Team briefing and debriefing meetings will be held on ..
Audit procedures
-Nature
-Due to the increased risk of fraud on, incorporate the element of unpredictability in the
audit testing
-Due to the increased risk of fraud on , professional skepticism will need to be increased in
testing
-Review the general controls before testing the key controls if we plan to rely on them
-If appropriate controls are identified, we will need to perform some tests of controls over
transactions during the period
-It is necessary to perform some controls testing due to ..
-Additional substantive procedures will need to be performed to obtain evidence of
completeness, occurrence, accuracy and valuation of .
-Extend substantive verification procedures for establishing assertions of .. at year end.
Depending on results of tests of controls and transactions for the period
-Extend substantive verification procedures for establishing existence, occurrence,
completeness, cut-off, accuracy, valuation, rights, of . at year end
-Plan for more CAATs type work due to the fact that much of the information is in electronic
format and transactions are generated electronically
-As a result of the lack of audit trail we will need to test through the computer.
-Perform detailed analytics of before/previous and after/current . to give assurance on the
credibility of the change over
-Time
-We will perform most of the audit work during the . to confirm that ., this will be during
the month of ....
-However testing for the remainder of the year will also need to be performed to ensure that
for the remainder of the year
-Extent
Materiality
-As a result of the high/low risk with regards to , materiality over accounts payable will
be lower/higher.
Sample size
-This higher\lower risk will thereby increase/decrease sample sizes for testing
CAATs

-CAATs can be used to increase sample sizes in order to increase the scope of testing.