The Audit Plan

The audit plan is much more detailed than the overall strategy because it includes details of the nature, timing and extent of the specific audit procedures to be performed. Planning these procedures depends, largely, on the outcomes of the risk assessment process, which was discussed earlier.

The audit plan should include specific descriptions of:

• the nature, timing and extent of risk assessment procedures;
• the nature, timing and extent of further audit procedures, including:
  • what audit procedures are to be carried out
  • who should do them
  • how much work should be done (sample sizes, etc)
  • when the work should be done (interim vs. final).
• any other procedures necessary to conform to ISA's.

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