• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

PQ Awards Nominations

Please help us to win one of the PQ Magazine awards and send in the voting form >>
You can nominate us in any or all of the following categories: Online College of the Year, Study Resource of the Year, Private Sector Lecturer of the Year, and Accountancy Personality of the Year.

Specially for OpenTuition students: 20% off BPP Books for ACCA & CIMA exams – Get your BPP Discount Code >>

audit planning

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › audit planning

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by Kim Smith.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • June 30, 2021 at 1:33 am #626649
    Noah098
    Member
    • Topics: 935
    • Replies: 352
    • ☆☆☆☆☆

    “Audit planning documentation should include the risk assessment cross-referenced to the audit program, and the audit program should cross-reference to the audit working papers.”

    Ma’am could you explain the relevance of the above paragraph? what exactly is an audit programme? why is it cross-referenced from both ends?

    Many thanks!
    (sorry ma’am can’t call you just ‘Kim’ i feel it will be very disrespectful on my part to do so)

    June 30, 2021 at 7:20 am #626674
    Kim Smith
    Keymaster
    • Topics: 100
    • Replies: 6803
    • ☆☆☆☆☆

    The “audit plan” is the “overarching” audit documentation – everything else is related to to it.

    So, for example, the audit plan documents that there is a high risk of misstatement in trade receivables because the credit controller is on long-term sick leave. So final audit procedures are planned to include external confirmation (“circularisation”) and other tests of details (e.g. on after-date cash receipts). Think of the audit programme as an audit checklist – do this – do that.

    I would say most if not all audit documentation (“working papers”) are cross-referenced “from both ends” – i.e. why they are there/where they go to. This is certainly going to help the next level of review – audit manager/audit partner/EQCR to navigate their way through the audit documentation to the things that are most important to their review.

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

ACCA News:

 

ACCA My Exam Performance for non-variant Applied Skills exams is available NOW

NEW! Download the ACCA Pass Guide

FREE Verifiable CPD for ACCA Members

ACCA mock exams and debrief videos

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

Donate

If you have benefited from OpenTuition please donate.

ACCA CBE 2023 Exams

Instant Poll * How was your exam, and what was the result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Specially for OpenTuition students

20% off BPP Books

Get BPP Discount Code

Latest comments

  • John Moffat on Activity Based Costing part 1 – ACCA Performance Management (PM)
  • John Moffat on Introduction to Financial Accounting – ACCA Financial Accounting (FA) lectures
  • tobimillz100 on Activity Based Costing part 1 – ACCA Performance Management (PM)
  • omarcham on IASB Conceptual Framework – Introduction – ACCA Financial Reporting (FR)
  • Iby2012 on Introduction to Financial Accounting – ACCA Financial Accounting (FA) lectures

Copyright © 2023 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in


We use cookies to show you relevant advertising, find out more: Privacy Policy · Cookie Policy