Auditing

AUDIT PLANNING & RISK ASSESSMENT INTRODUCTION The objective of this case study is to reinforce the messages contained in the Audit Planning & Risk Assessment Guide through the completion of a practitioner based case study that will cover the following key stages in the audit planning and risk assessment cycle: -Identification of the Audit Universe and related objectives; - Identification of specific risks, the measurement of these risks and how this can be used to focus audit activities on high risk areas; Using the risk assessment to enhance audit resource planning and allocation; -How risk assessment impacts on overall annual audit planning. AUDIT PLANNING & RISK ASSESSMENT INTRODUCTION The objective of this case study is to reinforce the messages contained in the Audit Planning & Risk Assessment Guide through the completion of a practitioner based case study that will cover the following key stages in the audit planning and risk assessment cycle: -Identification of the Audit Universe and related objectives; - Identification of specific risks, the measurement of these risks and how this can be used to focus audit activities on high risk areas; Using the risk assessment to enhance audit resource planning and allocation; -How risk assessment impacts on overall annual audit planning