Aligning Audit Planning and Strategy with IRBA's Heightened Expectations Part 1
CPD Hours: 2
Price: R450.00
Aligning Audit Planning and Strategy with IRBA's Heightened Expectations Part 1
Presenters : Lettie Janse van Vuuren CA(SA)
Overview
Audit planning and strategy are critical components of the auditing process, ensuring that audits are conducted efficiently, effectively, and in accordance with professional standards. This part of the audit process involves careful consideration of various factors such as the nature and complexity of the entity being audited, potential risks, regulatory requirements, and the overall audit approach.
By developing a comprehensive audit plan and strategy, auditors can establish a roadmap for conducting the audit that maximises effectiveness while minimising disruptions to the audited entity's operations.
We invite you to join Lettie Janse van Vuuren CA(SA) as she discusses the step by step approach to audit planning and strategy.
Learning objectives
Attending this webinar will equip you with the following skills:
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Have full appreciation of the importance of audit planning and strategy in the overall audit process.
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Recognise the factors that influence audit planning and strategy decisions.
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Gain insights into the role of risk assessment in audit planning.
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Understand the significance of communication and coordination in implementing audit plans and strategies.
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Learn how to adapt audit plans and strategies to address changes in circumstances or audit objectives.
Content
The webinar will cover the following topics:
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Introduction to Audit Planning and Strategy:
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Definition and importance of audit planning and strategy.
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Overview of the audit planning process.
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Key Components of Audit Planning and Strategy:
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Establishing audit objectives.
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Identifying key risks.
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Determining materiality thresholds.
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Developing an audit approach.
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Allocating resources effectively.
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Factors Influencing Audit Planning and Strategy Decisions:
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Nature and complexity of the audited entity.
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Industry-specific considerations.
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Regulatory requirements.
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Prior audit findings and recommendations.
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Risk Assessment in Audit Planning:
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Understanding the concept of risk in auditing.
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Techniques for assessing and evaluating audit risks.
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Incorporating risk assessment into the audit plan and strategy.
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Communication and Coordination:
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Importance of communication with key stakeholders.
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Coordination with management and other audit team members.
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Ensuring alignment of audit plans with organizational objectives.
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Adapting Audit Plans and Strategies:
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Monitoring and evaluating the effectiveness of audit plans.
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Responding to changes in circumstances or audit objectives.
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Flexibility in adjusting audit approaches as necessary.
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Case Studies and Practical Examples:
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Real-world examples illustrating effective audit planning and strategy.
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Discussion of challenges and best practices in audit planning and strategy implementation.
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Summary and Conclusion:
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Recap of key concepts covered in the module.
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Importance of effective audit planning and strategy in ensuring audit quality and efficiency.
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Final thoughts on the role of audit planning and strategy in the broader context of auditing.
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