The following are parts of a typical audit for a company with a fiscal year-end of July 31.

Requirements

a. Identify the phase of the audit in which each activity occurs.

b. Put parts 1 through 9 of the audit in the sequential order in which you will expect them to be performed in a typical audit.

Phases of the Audit

I.	Plan and Design an Audit Approach
II.	Perform Tests of Controls and Substantive Tests of Transactions
III.	Perform Substantive Analytical Procedures and Tests of Details of Balances
IV.	Complete the Audit and Issue an Audit Report

c. Identify those parts that will frequently be done before July 31.

	Phase of Audit
1.	Understand internal control and assess control risk.
2.	Perform substantive analytical procedures for accounts payable.
3.	Confirm accounts payable.
4.	Perform tests of controls and substantive tests of transactions for the
	acquisition and payment and payroll and personnel cycles.
5.	Perform other tests of details of balances for accounts payable.
6.	Perform tests for review of subsequent events.
7.	Accept the client.
8.	Issue the audit report.
9.	Set acceptable audit risk and decide preliminary judgment about
	materiality and performance materiality.

Requirement b. Put parts 1 through 9 of the audit in the sequential order in which you will expect them to be performed in a typical audit.

Sequence of a typical audit
Start	July 31 Audit Report Date									End

Requirement c. Identify those parts that will frequently be done before July 31.

Put parts 1 through 9