Step B. Planning and risk assessment

B6. Audit Planning And Documentation

a) Identify and explain the need for and importance of planning an audit.

b) Identify and describe the contents of the overall audit strategy and audit plan.

c) Explain and describe the relationship between the overall audit strategy and the audit plan.

d) Explain the difference between an interim and final audit.

e) Describe the purpose of an interim audit, and the procedures likely to be adopted at this stage in the audit.

f) Describe the impact of the work performed during the interim audit on the final audit.

h) Explain the need for, and the importance of, audit documentation. 

i) Describe the form and contents of working papers and supporting documentation.

j) Explain the procedures to ensure safe custody and retention of working papers.