Audit Completion

Although it sounds as though this takes place at the end of the audit, after the obtaining of audit evidence, this is not necessarily the case. Completion simply refers to all those necessary tasks that must be completed before the audit opinion can be decided and the audit procedures concluded. Many of the tasks listed below are ongoing; starting during the planning phase and continuing on until after the audit report has been signed.

The tasks include consideration of:

• opening balances,
• comparative information,
• subsequent events, and
• going concern.

In addition, there are certain tasks that naturally occur towards the end of the audit process, once all other procedures have been completed. These include:

• obtaining written representations,
• the final review of the audit file, and
• evaluating identified misstatements.

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Tags:	completion;Audit;auditing