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So they must be used at the planning stage, can be used to gather substantive evidence and must be used at the final stage of the audit
Can you explain how they are used at the planning stage when the accounts haven’t been prepared yet and balances are not complete. How can we compare at this stage.
And at the final stage of we must use them, to what extent and on what. Is using them at the final stage not just the same as using them to gain substantive evidence?
ThanksAt the planning stage draft FS or management account year to date will be available and these are used. Obviously, planning should remain flexible.
At the final review stage the audited FS will be used. Some amounts might have altered since the planning stage. Itt is a final look through the FS just before the audit report is signed.
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