Audit Process

1. Pre-angagement activities -Access Ethical and resource requirments. Determines the terms of the engagement -Budget vs Actual hours 
-Code of Ethics 
-Competency matrix 
-Team Agreement 
-Audit Angagement Letter
2. Strategic Planning -Understand the entity; identify and access risks. Develop an overall audit approach -Planning materiality 
-Prior year's audit matters 
-Laed schedule 
-Preliminary analytical review 
-Review of Internal audit 
-Audit communication checklist 
-Fraud checklist 
-Internal control checklist (manual and IT) 
-Going concern/Sustainability of services checklist 
-Using the work of another Auditor 
-Using the work of an expert 
-Risks of material misstatement on financial statement level 
-Overall audit strategy 
-Engagement team discussion document
3. Detailed Planning -Understand the entity; identify and access risks.
-Detirmine an appropriate response to access risks. Identify nature and extent of audit tests
-System description 
-Reliance on key control 
-Audit programs 
4. Audit fieldwork -Perform audit procedures identified -Evidence tracking sheet
-Lead schedule on component  level
-Test of control
-Substantive audit procedures performance
-Substantive analytical procedures 
-Disclosure checklist
-Management Representation letter
-Subsequent events
-Audit query
-Audit summary memorandum
5. Concluding reporting -Evaluate audit evidence 
-Communicate to the auditee
-Compile audit opinion
-Management letter
-Audit differences
-Audit repoting 
-Matters for the attention during next year's audit
-Code of Ethics complince
6. Quality Evidencing -Quality control and evidencing throughuot audit -Quality control questionnaire

File Name: 2015 Second quater News Letter 1 Newsletter




If you have a question about how the audit process works, or how the Office of the Auditor General (OAG) works then take a look at the frequently asked questions that we have prepared to try answer your inquiries. 
What is the role of the Office of Auditor General?

What is the difference between Office of the Auditor General and Internal Audit?

Who audits the OAG?

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