安永審計流程課件

E&YGAM:RoadMapClientNeedsandExpectations/OurResponsibilities/ProfessionalStandardsValue/Knowledge/TeamworkEstablishEngagementObjectivesUnderstandBusinessandEstablishAuditStrategyPerformAuditProceduresConcludetheAuditandAssessPerformance915PerformAnalyticalandDataAnalysisProcedures10PerformTestsofDetails11PerformGeneralAuditProcedures1412ConcludetheAuditAssessOurPerformanceCo-DevelopClientExpectations12IdentifyandOrienttheAuditTeamINHERENTRISKPerformTestsofControls7UnderstandtheBusiness3455Business6CONTROLRISKAssessInternalControlattheEntityLevelandtheRiskofFraudUnderstandandEvaluateSignificantProcessesandRelatedControlsDevelopthePreliminary

Audit

Strategy13AssessClientSatisfactionCombinedRiskAssessmentValueObservationsPerformRiskAssessmentsandCustomizeAuditSolutions8DevelopthePreliminary

Audit

StrategyE&YGAM:RoadMapClientNeedsPotentialClientDeliverablesPerformanceSupportInputsOutputsActivity1: Co-DevelopClientExpectations1.1Developanunderstandingoftheclient’s

needsandexpectationswithrespectto

howwedeliverourauditandother

businessserviceswiththeclient’skey

decisionmaker(s)andotherkey

executives.

1.2Develop,inconjunctionwiththekey

decisionmaker(s),avaluescorecard,

basedontheclient’sneedsand

expectations,desireddeliverables,and

themeasurementcriteriathatwere

agreedupon

1.3Communicateandagreewiththekey

decisionmaker(s)(and,where

appropriate,theauditcommitteeorits

equivalent)ourunderstandingofits

needsandexpectationsandourrelated

responsibilities.Continuethroughoutthe

audit,tocommunicateourvalue

deliverablesandcomparethose

deliverablestotheagreedupon

measurementcriteria.Co-DevelopClientExpectations1ValueObservation/MLitemsEngagementLetterSummaryofco-developedexpectations (clientservicecommunication)Summaryofclientrelationship expectationsandservicedeliveryneeds andexpectationsOuractionplanHighlevelunderstandingofbusiness goals,objectivesandstrategies,CSFsValuescorecardcomponents (measurements)Recordeffectofbusinessandfinancial statementrisksonsignificantaccountsand theirrelatedfinancialstatementassertions inourCombinedRiskAssessment(InherentRisk,ControlRiskitems)AuditPlanningPresentationTemplateCo-DevelopExpectationsTemplate(ValueScorecard)ServiceCharterBEAT/SWOTOtherforms&templatesEY/AWS,GDAProceduresKnowledgeResourcesAuditTeamRelationshipexpectationsServicedeliveryneedsandexpectationsMissionstatementBusiness’goals, objectivesandstrategiesE&YGAMDatabaseGAAITPressreleasesMarketinformation,economictrendsIndustryandbusinessknowledgeAnalystreports/industryjournalsOutputfromprioryearauditTeamknowledgefromdiscussionswith clientpersonnel Informationregardingchangesin standards,policiesandregulationsOtherDocumentationClient2PotentialClientDeliverablesPePotentialClientDeliverablesOutputsInputsActivity2: IdentifyandOrienttheAuditTeam2.1Identifythekeyengagementroles,consider

eachengagementteammember’sskillsin

ordertoassigntheteammembersto

specificroles,identifyandaddress

additionalresourceneeds(ifany),andgain

thecommitmentoftheteammembersto

theirassignedroles.

2.2Discussourunderstandingoftheclient’s

needsandexpectations,value

measurementcriteria,anddeliverables

agreeduponwiththeclient’skeydecision

maker(s)withtheengagementteam

memberswhowerenotinvolvedinthat

process.2.3Developtheteam’sgoalsandobjectives,

anddiscusshowtheteamwillwork

together,thespecificobservablebehaviors

thatteammembersaretodemonstrate,

andthegroundrulesforconduct,

accountability,andrespectamongthe

teammembers.2.4Developplansfortimely,directexecutive

participationintheperformanceofthe

audit. IdentifyandOrienttheAuditTeam2EngagementTeamDatabaseAreaAssignmentandReview ResponsibilitiesTemplateAutomatedTimeControlTemplate Otherforms&templatesEY/AWS,GDAClientcommunicationofwho ispartoftheteamtogetherwith assignedrolesSummaryof:TeamgoalsandobjectivesEachteammembers’keyresponsibilities:RoleAuditareasWorkproductsanddeliverablesProceduresAuditTeamE&YGAMDatabaseHRDatabase(skills,availability,etc.)OutputfromprioryearauditOutputfromcurrentyear: Activity1(clientrelationshipexpectations andservicedeliveryneedsandexpectations)KnowledgeofteamrolesKnowledgeofteammembers‘skillsTeammember’sdevelopmentobjectivesKnowledgeResourcesOtherDocumentationPerformanceSupport3PotentialClientDeliverablesOuPotentialClientDeliverablesInputsOutputsGlobalBenchmarkingBrowserAnalyticaltoolsValuechainandprocessmodelsUnderstandtheBusinessTemplateUnderstandCriticalBusinessProcessesT.BEAT/SWOT/Otherforms&templatesEY/AWS,GDAActivity3: UnderstandtheBusiness3.1Updateand/orobtainanunderstandingof

therelevantmarketforcesandother

environmentalfactors.3.2Updateand/orobtainknowledgeofhowthe

expectationsofkeystakeholders

influencemanagement’sactions.3.3Understandtheclient’sbusinessgoals

andobjectivesandthestrategies

developedtoachievethosegoalsand

objectives.3.4Identifythecriticalsuccessfactorsthat

aremostimportanttotheachievementof

theclient’sstrategies.3.5Identifyandgainahigh-levelunderstanding

oftheclient’sbusinessprocesses.3.6Identifytheclient’scriticalbusiness

processes.3.7Understandhowmanagementcontrolsits

criticalbusinessprocessesinorderto

achievetheclient’scriticalsuccessfactors.Summaryofsignificantchangesinmarketforces,environmentalfactors,influenceofkeystakeholdersonmanagement’sactions(BEAT)/strategicSWOTSummaryofclient’sgoals,objectives strategiesandCSFsCustomizedclient’smega/majorprocesses/organizationalcomponentsListofthecriticalbusinessprocessesSummaryofhowmanagementcontrols andmonitorsthecriticalprocessesRecordeffectofbusinessandfinancial statementrisksonsignificantaccountsand theirrelatedfinancialstatementassertions inourCombinedRiskAssessment(InherentRisk,ControlRiskitems)Analysisofmarketforces,environmental factorsandkeystakeholdersforvalidationGoals,objectives,strategies,CSFs forvalidationClient’smega/majorprocessdocumentation forvalidationValuescorecarditemsValueObservation/MLitems(Identificationof solutionsand/orserviceopportunities)UnderstandtheBusiness3ProceduresAuditTeamAnalysisofmarketforcesAnalysisofenvironmentalfactorsAnalysisofstakeholdersLoandocuments,unionagreements,etc.FinancialandoperatingdataProductandmarketingliteratureOrganizationchartBusinessplanandotherstrategicplanning documentsProcessmodels,includingvaluechain,KPIITGoals,ObjectivesandStrategiesE&YGAMDatabaseGAAITIndustryKnowledgeOnlineKwebToolsandReferenceGuideMarketinformation,economictrendsOtherindustryandbusinessknowledge, intelligenceandleadingpracticesAnalystreports/industryjournalsOutputfromprioryearauditOutputfromcurrentyear Activity1(understandingofbusinessgoalsobjectives,strategiesandCSFs)Knowledgeandconsiderationsofkeystakeholders aswellaseconomical,technological,compliance andregulatory,politicalandsocialfactorsKnowledgeofaccountingpracticesandreporting obligationsInformationfromrelatedcompaniesKnowledgeResourcesOtherDocumentationPerformanceSupportClient4PotentialClientDeliverablesInPotentialClientDeliverablesInputsOutputsActivity4: AssessInternalControlattheEntityLevel

andtheRiskofFraud4.1Gainanunderstandingofeachofthefive

componentsoftheclient’sinternalcontrolat

anentitylevelandidentifythefraudrisk

factorsthatarepresent.4.2Understandandevaluatetheclient’sIT

generalcontrols.4.3Assesstheeffectiveness(ineffectiveness)of

theclient’sinternalcontrolattheentitylevel

andtheriskoffraud. AssessInternalControlattheEntityLevelandtheRiskofFraud4ValuescorecarditemsValueObservation/MLitems(Internalcontrolimprovementideas,ITprocessleadingpracticeinformation,etc)AssessmentofinternalcontrolattheentitylevelConsiderationofriskoffraudEvaluationoftheeffectivenessofthe internalauditfunctionAssessmentsmadeasaninputfor clientcontinuanceprocessUnderstandingofITenvironment, processesandgeneralcontrolsResultsofwalk-throughandevaluationregardingtheeffectiveness ofthedesignofITgeneralcontrolsRecordeffectofbusinessandfinancial statementrisksonsignificantaccountsand theirrelatedfinancialstatementassertions inourCombinedRiskAssessment(InherentRisk,ControlRiskitems)AnalyticaltoolsICFCQuestionnaireEYTechnologySummaryFormOtherforms&templatesEY/AWS,GDAProceduresAuditTeamOrganizationchart,includingconcentrationof authorityandresponsibilitiesInformationaboutthecontrolstructureofthe company(Controlenvironment,riskassessment, controlactivities,informationand communication,monitoring)Compliancerequirementsimposedby regulatoryagenciesFinancialandoperationalinformationBoardminutes/InternalauditreportsHumanresources,andmanagementpolicies andproceduresITprocessmodels,policiesandprocedures, otherplansandperformancetargetsE&YGAMDatabaseITprocessmodels,benchmarksandleading practicesOutputfromprioryearauditOutputfromcurrentyear: Activity1Client’sneedsandexpectations Activity3Significantenvironmentalchanges, businessgoals,objectives,strategies andCSFs,(critical)business processes,businessriskUnderstandingofInternalAuditFunctionKnowledgeResourcesOtherDocumentationPerformanceSupportClient5PotentialClientDeliverablesInPotentialClientDeliverablesInputsOutputsActivity5: DevelopthePreliminaryAuditStrategy5.1Performanoverallanalysisofthefinancial

statementsandotherrelevantfinancialand

non-financialinformation,supplementedby

inquiriesofoperatingandfinancial

management.5.2Establishplanningmaterialityandtolerable

error,andsetanominalamountbelowwhich

wewillnotcarryauditdifferencestothe

SummaryofAuditDifferences. 5.3Identifysignificantaccountsorgroupsof

accounts.5.4Identifyprocessesthatinfluencethe

significantaccountsorgroupsofaccounts.5.5Developastrategyforunderstandingand

evaluatingsignificantprocesses. 5.6Makeapreliminarycombined(inherentand

control)riskassessmentforeachsignificant

accountorgroupofaccountsandtherelated

financialstatementassertions.5.7Establishourpreliminaryauditscope.5.8PreparetheAuditStrategiesMemorandum. 5.9Preparethepreliminaryauditprogramorwork

plan.5.10Completeotherplanningandengagement

managementitems. DevelopthePreliminaryAuditStrategy5ValuescorecarditemsValueObservation/MLitemsAuditplanningpresentationListofdocumentationtobepreparedby clientGlobalBenchmarkBrowser(GBB)AnalyticaltoolsEngagementTeamDatabaseValuechainandprocessmodelsSignificantProcessMapTemplateEYTechnologySummaryFormOtherforms&templatesEY/AWS,GDAProceduresAuditTeamInterimfinancialstatements,including managementanalysisOtherinterimfinancialandoperatingdataKnowledgeofoveralltrendsinthebusiness andtheindustryStatutoryandotherreportsBoardminutesE&YGAMDatabaseGAAITOutputfromprioryearauditOutputfromcurrentyear: Activity1Client’sneedsandexpectations Activity2Teamgoals,objectives,roles Activity3 Significantchangesinmarketforces, environmentalfactorsandstakeholder influence,businessgoals,objectives strategies,CSFsandmajorbusiness processes,definitionofcriticalprocesses Activity4 Internalcontrols/ITgeneralcontrolsInformationregardingchangesinstandards, policiesandregulationsAuditinstructionfromcorporateauditorto subsidiaryauditorsResultsfromclientcontinuanceprocessKnowledgeResourcesPerformanceSupportConclusionfromoverallanalysisoffinancial/ non-financialdata/inquiriesofmanagementPlanningmateriality,tolerableerror,and SADnominalamountDeterminationofsignificantaccountsLinkbetweensignificantprocessesandsignificantaccountsDecision/strategyforunderstandingandevaluatingsignificantprocessesPreliminaryCombinedRiskAssessmentPreliminaryauditscopeAuditStrategiesMemorandum(ASM)PreliminaryauditprogramorworkstepsEngagementbudgetandstaffingassignmentsMulti-locationauditconsiderationsandcorresp.Recordeffectofbusiness&financialstatementrisksonsignificantaccountsandtheirrelatedfinancialstatementassertionsinourCRA(IR&CRitems)EngagementLetterOtherDocumentationClient6PotentialClientDeliverablesInPerformanceSupportPotentialClientDeliverablesInputsActivity6:UnderstandandEvaluateSignificantProcesses RelatedControls6.1Gainanunderstandingofthesignificant

processes.6.2Identifythetypesoferrorsthatcouldoccur. 6.3Decidewhetherweplantoidentify,

understand,andevaluatecontrolsover

theseprocesses,orfollowanapproachof

assessingcontrolriskatthemaximumand

performingsubstantiveproceduresator

nearyearend.6.4Whenweplantoassesscontrolriskat

lessthanthemaximum,identifythe

relatedcontrolsdesignedtoprevent

and/ordetectthetypesoferrorsthatcould

occur(i.e.,understandhowmanagement

controlstheprocess).6.5Conductawalk-throughtoconfirmour

understandingoftheprocess’design,and

whenwehavedecidedtoassesscontrol

riskatlessthanthemaximum,our

understandingoftherelatedcontrols,and

determinethattheidentifiedcontrolshave

beenplacedinoperation.6.6Preliminarilyevaluatetheeffectivenessof

therelatedcontrols.6.7Decidewhetherwewilltest(beyondour

walk-throughs)andplaceadditional

relianceoncontrolsrelatedtothe

process.6UnderstandandEvaluateSignificantProcessesandRelatedControlsValuescorecarditemsValueObservation/MLitems(process improvementideas:time,cost,quality, benchmarksandleadingpractices)ProcessdocumentationforvalidationForeachsignificantprocesswedecidedto evaluateinA5(Business,Accounting,FSCP)

Recordeffectofbusinessandfinancial statementrisksonsignificantaccountsand theirrelatedfinancialstatementassertions inourCRA(InherentRisk,ControlRiskitems)ABCFlowcharterBusinessProcessProfilerValuechainandprocessmodelsGainanUnderstandingofSign.ProcessesTemplate/PerformWalk-ThroughsTemplateITControlsEvaluationFormOtherforms&templatesEY/AWS,GDADocumentationofourunderstandingofthe designandoperationoftheprocessand relatedmanualandapplicationcontrolsTypesoferrorsthatcouldoccurin connectionwitheachoftherelevantfinancial statementassertionsDocumentationandconclusionsofour walk-throughsoftheprocessandrelated manualandapplicationcontrolsPreliminaryevaluationoftheeffectivenessoftherelatedcontrolsProceduresAuditTeamDocumentationofsignificantprocesses, IncludingFSCP(objectives,owners, inputs/outputs,controls)Trialbalance,generalandsubsidiaryledgersFinancialstatementsanddisclosuresPerformancetargets/KPIsPoliciesandproceduresmanualReportsfrominternalauditorsE&YGAMDatabaseIndustryInformation(benchmarks,leading practices,peercompanydata)OutputfromprioryearauditOutputfromcurrentyear: Activity1Client’sneedsandexpectations Activity2Teamgoals,objectives,roles Activity3Significantenvironmentalchanges, businessgoals,objectives,strategies andCSFs,businessprocesses Activity4 Internalcontrol/ITgeneralcontrols Activity5Materiality,significantaccounts, linkbetweenbusinessprocesses, accountingactivities,IT-processes andsignificantaccounts decision/strategyaboutfurther processevaluation

KnowledgeResourcesOtherDocumentationOutputsClient7PerformanceSupportPotentialPotentialClientDeliverablesInputsOutputsActivity7: PerformTestsofControls7.1Usingtheunderstandingoftheprocesses

gainedinpreviousactivities,designand

executetestsofcontrolsovertherelated

processes.7.2Evaluatetheresultsofourtestsofcontrols.7.3Updateourevaluationofcontrolsthrough

yearend.PerformTestsofControls7ValuescorecarditemsValueObservation/MLitems(Summaryof testresultsandcontrolimprovementideas)Documentationofnature,timing,andextentofourtestsofcontrols.DocumentationoftheitemssubjectedtotestingDocumentationofthetestresults,includingexceptionsandourconclusionsabouteffectivenessofcontrolsRecordeffectofbusinessandfinancial statementrisksonsignificantaccountsand theirrelatedfinancialstatementassertions inourCombinedRiskAssessment(ControlRisk)AnalyticaltoolsForms&templatesEY/AWS,GDAProceduresAuditTeamResultsofinternalauditcontroltestsResultsofmanagement’sinternalcontrol self-assessment,ifanyE&YGAMDatabaseLeadingpracticesintestingcontrolsOutputfromprioryearaudit,includingcarry- forwardofevidencewherewerotateour testsofcontrols.Outputfromcurrentyear: Activity1Client’sneedsandexpectations Activity2Teamgoals,objectives,roles Activity3Significantenvironmentalchanges, businessgoals,objectives,strategies CSFs,businessprocesses Activity4 Internalcontrol/ITgeneralcontrols Activity5Materiality,auditstrategy Activity6Ourunderstandingofthedesign andoperationofsignificantmanual andapplicationcontrols.Typesof errorsthatcouldoccur. Conclusionsofourwalk-throughs ofsignificantmanualandapplication controls.Preliminaryevaluationofthe significantcontrolsaseffective orineffectiveKnowledgeResourcesOtherDocumentationPerformanceSupportClient8PotentialClientDeliverablesInInputsOutputsActivity8: PerformOurRiskAssessmentsand

CustomizeAuditSolutions8.1Foreachsignificantaccountorgroupof

accounts,performaCombinedRisk

Assessment,orreconsiderourpreliminary

CombinedRiskAssessment,foreach

financialstatementassertion.8.2Determinethenature,timingandextentof

theauditprocedurestoprovidethe

necessaryremainingauditevidence.

Identifyandevaluatepotentialaudit

solutionstogainadditionalauditevidence

necessarybasedonourCombinedRisk

Assessmentsandtheauditevidencethat

mayalreadyhavebeenobtainedfromthe

substantiveproceduresperformed.8.3Forotherclientbusinessrisksthatwemay

haveidentified,considerdesigningpossible

solutionstoassisttheclientinrespondingto

therisksandrealizingthebenefitsofour

ideas. Perform

OurRiskAssessmentsandCustomizeAuditSolutions8SummaryofValueObservation/MLitems fromActivities1to8,aswellasimportant businessandfinancialstatementrisksand ideasforimprovement(ifnotpresentedat theendoftheaudit)CombinedRiskAssessmentforeach significantaccountorgroupofaccountsand relatedfinancialstatementassertionsUpdatedauditprogram(customizedsolutions: analyticalprocedures/testsofdetails)Forms&templatesEY/AWS,GDAProceduresAuditTeamE&YGAMDatabaseGAAITSuggestedsolutionsforrisksandopportunitiesOutputfromprioryearauditRecordedeffectofbusinessandfinancial statementrisksonsignificantaccountsand theirrelatedfinancialstatementassertions inourCombinedRiskAssessmentfrom: Activity3 Significantenvironmentalchanges, businessgoals,objectives,strategies CSFsandprocesses Activity4 Internalcontrol/ITgeneralcontrols Activity5 Analysisoffin./rmation Activity6/7 Designandoperationoftheprocess andrelatedmanual/applicationcontrols typesoferrorsthatcouldoccur resultsfromwalk-throughsandour testsofcontrols,finalprocessand controlevaluation ValueObservation/MLitemsfromActivities1-7ClientsneedsandexpectationsformActivity1Teamgoals,objectivesandrolesfromActivity2PlanningandstrategyinformationfromActivity5:Materiality,TEandnominalamountofSADDeterminationofsignificantaccountsPreliminaryCombinedRiskAssessmentPreliminaryauditscopeAuditStrategiesMemorandumPreliminaryauditprogramPotentialClientDeliverablesKnowledgeResourcesOtherDocumentationPerformanceSupport9InputsOutputsActivity8: PerfPotentialClientDeliverablesInputsOutputsActivity9: PerformAnalyticalandData

AnalysisProcedures9.1Determinetheobjectivesoftheanalyticsandconsiderwhetheranalyticalordataanalysisproceduresareappropriateinthecircumstancesgiventheauditevidenceweneed.

9.2Developanexpectationoftheresultoftheanalyticsthatissufficientlypreciseandinwhichwehavesufficientconfidencetoprovidethedesiredlevelofauditassurance.Todothis,weconsiderourdesiredprecision(e.g.,tolerableerrorifwearepredictinganamount)andthelevelofconfidencewehaveinourexpectation.9.3Selectananalyticaltechnique(andanautomatedtool,inmanyinstances)consideringtheauditevidenceweneedandtheguidanceinthisactivityregardingthespecificanalyticaltechniques(i.e.,DataAnalysis,Predictive,Ratio/TrendAnalysis).9.4Obtainthedata,executetheanalytic,andcomparetheresultswithourexpectation. PerformAnalyticalandDataAnalysisProcedures9ValuescorecarditemsValueObservation/MLitems:Documentationoftheexecutionofthe analyticalanddataanalysisprocedures,including:

AuditdifferencesReconsiderationofCombinedRisk Assessmentsbasedoninformationgained andauditdifferencesidentifiedGlobalBenchmarkingBrowserAnalyticalTools:Forms&templatesEY/AWS,GDAImprovementideasandrecommendationsOutputfromautomatedtoolsOurexpectation,desiredprecisionanddegree ofconfidencewehaveinourexpectationReliabilityoftheunderlyingdataOurcomparisonofourexpectationswith theoutcomeoftheanalyticalanddataanalysis proceduresOurfollowuponanysignificantdifferencesVersionoftheanalyticaltoolusedand name,date,type,etcoffileusedinour

testProceduresAuditTeamFinancialandoperatinganalysismadebymanagementFinancialstatementsanddisclosuresTrialbalanceGeneralandsubsidiaryledgersOtherfinancialandoperatingdataKeyperformanceindicatorsRequesteddatafilesE&YGAMDatabaseGAAITIndustryandpeercompanyinformationIndustryoperatingandperformancefigures ratiosOutputfromprioryearauditOutputfromcurrentyear: Activity1 Client’sneedsandexpectations Activity5 Planningmateriality,tolerableerror andnominalSADamount A4/6 Generaldatasecurityandconsistency A1,3–7 Findingsandconclusionsfrom understandingofbusinessand financialstatementrisks Activity8 Customizedauditstrategies,incl. desiredlevelofauditassurance fromanalyticalprocedures Activity10 ResultsfromtestsofdetailsKnowledgeResourcesOtherDocumentationPerformanceSupportDataanalysisRatioandtrendanalysisPredictiveanalysisClient10PotentialClientDeliverablesInPotentialClientDeliverablesInputsOutputsActivity10: PerformTestsofDetails10.1Performkey-itemtests,representative

samples,and/orothertestsofunderlying

data.Considerthenature,timing,and

extentoftheproceduresweidentifiedwhen

wedevelopedourcustomizedaudit

solutionsand,whenapplicable,establish

key-itemthresholdsandscopesthatare

responsivetoourCombinedRisk

Assessments.10.2Whensubstantiveproceduresare

performedpriortoyearend,determinethe

natureandextentofourroll-forward

procedures.10.3Concludeontheresultsofourtestsof

details.PerformTestsofDetails10Documentationoftheexecutionofthe testsofdetails,including:AuditdifferencesReconsiderationofCombinedRisk AssessmentsifauditdifferencesareidentifiedValuescorecarditemsValueObservation/MLitems:AuditRiskTablesEY/MicroSTARTForms&templatesEY/AWS,GDAEvidenceregardingfinancialstatement assertionsandthe reasonablenessofthe estimatesandotherinformationcontained inthefinancialstatementsModificationoftheauditprogramforadditional worktobeperformedProceduresImprovementideasand recommendationsAuditTeamFinancialstatementsanddisclosuresTrialbalanceGeneralandsubsidiaryledgersOtherfinancialandoperatingdata,suchas:

Extracts,reconciliations,confirmations,lists, summaries,schedules,contractsandother evidentialmatterrelatedtosignificantaccountsE&YGAMDatabaseLocalcontentregardingexchangerates, marketpriceofsecurities,commodities,etc.Taxratesandtaxrelateddepreciationrates,Provisionsforbaddebts,etc.OutputfromprioryearauditOutputfromcurrentyear: Activity1 Client’sneedsandexpectations Activity5 Planningmateriality,tolerableerror andnominalSADamount A4/6 Generaldatasecurityandconsistency A1,3–7 Findingsandconclusionsfrom understandingofbusinessand financialstatementrisks Activity8 CombinedRiskAssessment Customizedauditstrategies,incl. desiredlevelofauditassurance fromtestsofdetails Activity9 ResultsfromanalyticalproceduresKnowledgeResourcesOtherDocumentationPerformanceSupportClient11PotentialClientDeliverablesInPotentialClientDeliverablesInputsOutputsActivity11: PerformGeneralAuditProcedures11.1Determinetherequiredgeneralaudit

proceduresandmodifyorsupplementas

necessary.11.2Executethegeneralauditproceduresand

documentourfindings.PerformGeneralAuditProcedures11ValuescorecarditemsValueObservation/MLitems:Improvementideasand recommendationsDocumentationoftheexecutionofthe generalauditproceduresDocumentationrequiredbylocalauditstandards suchas