-Imagine you are an auditor of the company -What is your audit plan and procedures for the audit of 2021 year endfinanci

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-Imagine you are an auditor of the company
-What is your audit plan and procedures for the audit of
2021 year endfinancials in accordance with Audit
Plan
-Explain in maksimum 10-15 slides
For example; one slide per each:
-Key concepts and audit process
-Materiality
-Significant accounts
-Assertions
-Financial statements and disclosures
-Control and IT environment
-You can give more details if possible addition to above from company internet sites and KAP announcements
(
-Materiality
First benchmark
Profit before tax (PBT)
Materiality:%5 of PBT
Performance materiality: %75 of Materiality
Audit misstatement of threshold: %5
of Materiality
If the company is
in loss, use total assets as second benchmark
Total assets (TA)
Materiality:%2 of TA
Performance materiality: %75 of Materiality
Audit misstatement of threshold: %5
of Materiality)
Preliminary activities
►1.1.1. Pre-engagement
►1.1.2. Strategy
►1.2.1. Initial independence
►1.3.1. Materiality
Completion
►1.2.2 Independence confirmations
►1.3.3. Re-evaluate materiality
►1.4.2. Communicate results
►2.2.3. Components of IC: SICD
►3.1.4. SAM
►3.1.6. Subsequent events
►3.X.4. Results (Business process)
►4. Conclusions and reporting
Risk assessment and planning
►2.1.1. Entity and environment
►2.1.2. Minutes
►2.1.3. Planning analytics
►2.1.4. Inquiries
►2.1.5. Business processes
►2.1.6. RAPD
►2.2.1. Components of IC: CERAMIC
►2.2.2. Components of IC: IT Understanding
►2.3. Fraud
►2.4. Overall response
►3.X. Business process
►3.X.1. Understanding (walkthroughs)
►3.X.2. Risks
►3.X.3. Response
—CA. Control activities (D&I)
—SUB. Substantive procedures
►1.1.3. Audit plan
►1.1.5. Internal audit
►1.3.2. PM & AMPT
►1.4.1. Communicate plan
Final response
►CA. Control activities (TOE)
►SUB. Substantive
►3.1.5. Evaluate FS
Interim response
►1.0.2. D&A Assessment Aide
►CA. Control activities (TOE)
►SUB. Substantive
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