1. COMPLETION
OF AN AUDIT

2. Completion
SUMMARY
INITIAL COMPARATIVE OTHER POST SFP GOING FINAL
ENGAGEMENTS INFORMATION INFORMATION EVENTS CONCERN PROCEDURES

3. ISA 510
INITIAL ENGAGEMENTS

4. ISA 510
INITIAL ENGAGEMENTS
OPENING BALS
NO MATERIAL MIS-STATEMENT

5. ISA 510
INITIAL ENGAGEMENTS
OPENING BALS LAST YEAR’S
NO MATERIAL MIS-STATEMENT FIGURES RESTATED

6. ISA 510
INITIAL ENGAGEMENTS
OPENING BALS LAST YEAR’S POLICIES
NO MATERIAL MIS-STATEMENT FIGURES RESTATED CONSISTENTLY APPLIED
CHANGES
DISCLOSED

7. ISA 510
INITIAL ENGAGEMENTS

8. ISA 510
INITIAL ENGAGEMENTS
LAST YEAR AUDIT
QUALIFIED?

9. ISA 510
INITIAL ENGAGEMENTS
LAST YEAR AUDIT ADJUSTMENTS
QUALIFIED? IN LEDGERS TOO?

10. ISA 510
INITIAL ENGAGEMENTS
LAST YEAR AUDIT ADJUSTMENTS NO AUDIT?
QUALIFIED? IN LEDGERS TOO? TALK TO MANAGEMENT
REVIEW P/Y CONTROLS & RECORDS
RESOLVED? TEST OPENING POSITION

11. Completion
SUMMARY
INITIAL COMPARATIVE OTHER POST SFP GOING FINAL
ENGAGEMENTS INFORMATION INFORMATION EVENTS CONCERN PROCEDURES

12. COMPARATIVES (ISA 710)

13. COMPARATIVES (ISA 710)
COMPLY
WITH FR FRAMEWORK (NO
ERRORS)

14. COMPARATIVES (ISA 710)
COMPLY
WITH FR FRAMEWORK (NO
ERRORS)
PRIOR PERIOD ADJ
CHECK RESTATED
EMPHASIS OF MATTER PARAGRAPH
IF NOT RESTATED - QUALIFY

15. COMPARATIVES (ISA 710)
COMPLY CONSISTENT
POLICIES
WITH FR FRAMEWORK (NO
ERRORS)
PRIOR PERIOD ADJ
CHECK RESTATED
EMPHASIS OF MATTER PARAGRAPH
IF NOT RESTATED - QUALIFY

16. Completion
SUMMARY
INITIAL COMPARATIVE OTHER POST SFP GOING FINAL
ENGAGEMENTS INFORMATION INFORMATION EVENTS CONCERN PROCEDURES

17. OTHER INFO (ISA 720)

18. OTHER INFO (ISA 720)
EXAMPLES
CHAIRMANS
REPORT
5 YR SUMMARIES

19. OTHER INFO (ISA 720)
EXAMPLES
CHAIRMANS IDENTIFY
REPORT INCONSISTENCY
5 YR SUMMARIES OR
NON FACTS

20. OTHER INFO (ISA 720)
EXAMPLES
CHAIRMANS IDENTIFY
REPORT INCONSISTENCY
5 YR SUMMARIES OR
NON FACTS
REPORT
INCONSISTENT
EMPHASIS OF MATTER

21. OTHER INFO (ISA 720)
EXAMPLES
CHAIRMANS IDENTIFY
REPORT INCONSISTENCY
5 YR SUMMARIES OR
NON FACTS
ACCOUNTS
WRONG REPORT
EXCEPT FOR PARAGRAPH
INCONSISTENT
EMPHASIS OF MATTER

22. OTHER INFO (ISA 720)
EXAMPLES
NOT HAPPY?
RESIGN / REFUSE TO
REPORT
CHAIRMANS IDENTIFY
GET LEGAL ADVICE REPORT INCONSISTENCY
5 YR SUMMARIES OR
NON FACTS
ACCOUNTS
WRONG REPORT
EXCEPT FOR PARAGRAPH
INCONSISTENT
EMPHASIS OF MATTER

23. Completion
SUMMARY
INITIAL COMPARATIVE OTHER POST SFP GOING FINAL
ENGAGEMENTS INFORMATION INFORMATION EVENTS CONCERN PROCEDURES

24. ADJUSTING
anything which tells us more about the condition at the year
end

25. ADJUSTING
DAMAGED STOCK
anything which tells us more about the condition at the year
end

26. ADJUSTING
DAMAGED STOCK
TAX LIABILITY
anything which tells us more about the condition at the year
end

27. ADJUSTING
DAMAGED STOCK DOUBTFUL DEBTS
TAX LIABILITY
anything which tells us more about the condition at the year
end

28. ADJUSTING
DAMAGED STOCK DOUBTFUL DEBTS
TAX LIABILITY DISCOVERY OF ERRORS
anything which tells us more about the condition at the year
end

29. NON-ADJUSTING
material but arose after year end.. just disclose

30. NON-ADJUSTING
ISSUE OF SHARES
material but arose after year end.. just disclose

31. NON-ADJUSTING
ISSUE OF SHARES FIRES, FLOODS
material but arose after year end.. just disclose

32. POST SFP EVENTS - procedures
Management Procedures
how do they identify them? Review Board minutes
will it work?
Ask them directly too
Management Accounts Representation Letter
Cashflow forecasts etc

33. AUDITOR RESPONSIBILITY
POST SFP EVENTS
ACTIVE PASSIVE AFTER ISSUE
FROM REPORT DATE TO ISSUE
UNTIL REPORT DATE New report with emphasis of
matter paragraph
Amend and re-issue report
Identify events & their impact -
qualify? if Refused - get legal advice
If refused - resign or EGM

34. AUDITOR RESPONSIBILITY
POST SFP EVENTS
ACTIVE PASSIVE AFTER ISSUE
FROM REPORT DATE TO ISSUE
UNTIL REPORT DATE New report with emphasis of
matter paragraph
Amend and re-issue report
Identify events & their impact -
qualify? if Refused - get legal advice
If refused - resign or EGM

35. AUDITOR RESPONSIBILITY
POST SFP EVENTS
ACTIVE PASSIVE AFTER ISSUE
FROM REPORT DATE TO ISSUE
UNTIL REPORT DATE New report with emphasis of
matter paragraph
Amend and re-issue report
Identify events & their impact -
qualify? if Refused - get legal advice
If refused - resign or EGM

36. AUDITOR RESPONSIBILITY
POST SFP EVENTS
ACTIVE PASSIVE AFTER ISSUE
FROM REPORT DATE TO ISSUE
UNTIL REPORT DATE New report with emphasis of
matter paragraph
Amend and re-issue report
Identify events & their impact -
qualify? if Refused - get legal advice
If refused - resign or EGM

37. Completion
SUMMARY
INITIAL COMPARATIVE OTHER POST SFP GOING FINAL
ENGAGEMENTS INFORMATION INFORMATION EVENTS CONCERN PROCEDURES

38. GOING CONCERN (IAS 570)
Auditor assess
Management assumptions made Review Management
Responsibility future plans & get
to assess representations
Examine
refinancing
needs Post SFP
Events
Any litigation? Can fulfill
orders?

39. RISK INDICATORS

40. RISK INDICATORS
Costs increasing
Supply shortages
Failing industry
High gearing
Directors loans
Loss of key staff
or customers

41. Foreseeable Future
Same as Management
at least 12m

42. IF not GOING CONCERN
Re-state If
Accounts Refused
Break up basis Adverse Audit Opinion

43. IF not GOING CONCERN
Significant
Doubt
Disclose
Emphasis of Matter

44. Completion
SUMMARY
INITIAL COMPARATIVE OTHER POST SFP GOING FINAL
ENGAGEMENTS INFORMATION INFORMATION EVENTS CONCERN PROCEDURES

45. Final REVIEW

46. Final REVIEW
DETAILED REVIEW
SENIOR REVIEWS
JUNIOR
QUALITY CONTROL

47. Final REVIEW
DETAILED REVIEW
MANAGER
SENIOR REVIEWS REVIEW
JUNIOR
OVERVIEW
QUALITY CONTROL GAPS?
FILE CONDITION
KEY ISSUES?

48. Final REVIEW
DETAILED REVIEW
MANAGER
SENIOR REVIEWS REVIEW
JUNIOR
OVERVIEW
QUALITY CONTROL GAPS?
FILE CONDITION
KEY ISSUES?
PARTNER
REVIEW
TOP LEVEL
FINAL OPINION
ANY LAST ISSUES

49. Final REVIEW
DETAILED REVIEW
MANAGER
SENIOR REVIEWS REVIEW
JUNIOR
OVERVIEW
QUALITY CONTROL GAPS?
FILE CONDITION
KEY ISSUES?
OTHERS PARTNER
HOT & COLD REVIEW
TOP LEVEL
FINAL OPINION
ANY LAST ISSUES

50. Final REVIEW
DETAILED REVIEW
WHY BOTHER?
ACCORDING TO PLAN?
FLEXIBLE PLAN?
WORK DONE?
MANAGER
SUFFICIENT EVIDENCE? SENIOR REVIEWS REVIEW
JUNIOR
OVERVIEW
QUALITY CONTROL GAPS?
FILE CONDITION
KEY ISSUES?
OTHERS PARTNER
HOT & COLD REVIEW
TOP LEVEL
FINAL OPINION
ANY LAST ISSUES

51. LAST PROCEDURES

52. LAST PROCEDURES
ANALYTICAL REVIEW FOR T&F
ALL BALANCES SUBSTANTIATED
CHECKLIST FOR DISCLOSURES
CHECKLIST FOR ACCOUNTING POLICIES