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Planning (Audit Strategy (overall level) (SCOPE= range of activities…

- - - - Structure
        
        What information have you gathered
        
        What are you getting the evidence from
        
        Audit verb
        
        Analytical Review process
        
        Observe (process)
        
        Inquire (weak) with people
        
        Inspect (paper)
        
        What is the information helping you understand
    - - Only after D&I of controls is completed can we test for operating effectiveness (Test of controls)
      - Implementation
        
        Are the controls actually used/there
      - Design
        
        Are controls THEORETICALLY (in the system description/ management inquiry) capable of mitigating risks
        WE ARE NOT TESTING IF IT ACTUALLY WORKS JUST THAT IS IT THERE AND WOULD MITIGATE RISKS
- - - - Controls are present in the system (we are able to test)
      - control environment (use of internal audit function)
      - Do we have the resources to test controls
    - - training to junior staff members
      - Expectation of management/ Specific request for separate test of controls engagement
      - Cost<benefit
      - change in key personal or system
      - value adding comments
    - - Controls have not been tested in previous three years, so can't rely on the roll over of previous test of control results
      - Areas of significant risk must be tested
      - large volume of transactions (sample would need to be too big)
      - complex transactions (first test general controls)
      - Integrated automated system (min human)
      - Minimal paper trail
      - Place reliance on controls previously
- - - - TEST OF DETAIL
      - ARPs