Mind map of Chapter 6 and 7, Kaplan text Planning and Risk
Preliminary engagement activities Level 1 Planning Preliminary engagement activities Can we do this audit Consent Letter AEL ISA-210
Level 2 Planning Audit Plan Audit Strategy
Extent of audit procedure Audit Plan Audit Strategy Risk assessment ISA-315 Materiality ISA-320 Scope Reporting Extent of audit procedure Direction Factors Range Tolerable error SOUE Timetable. Communication. Inherent Risk at FS level. Control Risk at Account balance level. Detection Risk. Laws and Regulation. No. of locations. Use of I.T. System based approach High sampling (High Risk) Low sampling (Low Risk)