AF1 koolitus

A brainstorming session where the engagement team visually draws out their preliminary understanding of the process

• Whiteboard

• Update meeting

• Meeting with the management

• Kick-off

A type of substantive procedure which involves analyzing data and expected relationships to draw conclusions

• TOE

• TOD

• SAP

• RAPD

The information used in your audit is trustworthy

• Sufficient

• Reliable

• Required

• Applicable

Risks that relate to specific financial statement accounts, disclosures and assertions

• Financial Statement Level Risk

• Inherent Risk

• Assertion level RMs

• Fraud Risk

Involves obtaining evidence to evaluate whether the control was performed consistently throughout the period by individuals with the necessary authority and competence

• Test of operating efectiveness (TOE)

• Test of Details (TOD)

• Substantive Analytical Procedures

• Risk Assessment

There is a logical connection, or relationship, between the information and the objective of the procedure being performed

• Reliable

• Relevant

• Significant

• Applicable

Auditor obtains evidence in order to determine whether the amounts and disclosures in the financial statements are presented fairly in accordance with the accounting standards

• Internal audit

• Journal Entries testing

• Review on Financial Statements

• Financial statement
  audit (FSA)

The data entered in the system is complete, it exists and it’s accurate

• Data extraction

• IT system

• Data Input

• Data Transfer

All the documented audit procedures used to form the population on the financial statements

• Journal Entries

• KcW (Clara)

• KAEG

• Audit evidence

A type of substantive procedure which involves obtaining audit evidence to support individual transactions, such as inspecting an invoice or contract

• SAP

• TOD

• TOE

• Risk Assesment