Page 61 - Microsoft Word - 00 IWB ACCA F7.docx

Planning

1.3 Audit strategy

Reporting
objectives,
timing &

communication

 Timetable for Significant
reporting
Characteristics factors,
of the  Communication preliminary
engagement with client, team & engagement
3 parties activities
rd

 FR framework  Materiality

 Industry reporting Audit  Risk assessment

 Knowledge of strategy  Internal controls
business  Need for
scepticism
 Internal audit
 Changes in laws &
 Service regulations

organisation  Significant
Nature, timing
 Use of CAATs developments
and extent of
resources
 Availability of client
staff

 Selection of audit
team

 Budget

57