Audit planning is a vital area of the audit primarily conducted at the beginning of audit process to ensure that appropriate attention is devoted to important areas, potential problems are promptly identified, work is completed expeditiously and work is properly coordinated.

What is in an audit plan?

Audit Plan

The planned nature, timing, and extent of the risk assessment procedures; The planned nature, timing, and extent of tests of controls and substantive procedures;¹² and. Other planned audit procedures required to be performed so that the engagement complies with PCAOB standards.

How do I write an audit plan?