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Hi sir
I wanted to know as i dont hv exposure to audit practise work, that by giving me hypothetical dates could u tell me from where the planning starts and audit ends.
i.e planning completion etc etc line by line
ThanksAccounting year end 31 December, 2017
Start planning interim audit visit 1 September, 2017
Interim audit visit start 14 September, 2017
Interim audit visit finish 25 September, 2017
Start planning attendance at year end inventory count 14 December, 2017
Attend year end inventory count 31 December, 2017
Start planning final audit visit 7 January 2018
Final audit visit start 21 January, 2018
Final audit visit finish 11 February, 2018
Meetings with executive board and with non-executive audit committee sometime shortly after completion of audit field work
Client signs annual report and financial statements around end of March, 2018
Auditor signs audit opinion around end of March, but NOT before directors’ have approved those financial statements
This sets out a draft timetable for the audit visits to a large public company client
None of the above is written in tablets of stone and, personally, I would be very, very surprised if there is any audit timetable that fits exactly the above draft … but you will, I hope, get the general idea
OK?
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