Scoping
This individual on the team typically will be the preparer of the preliminary materiality
Who is the Senior Associate?
Perform walkthroughs of all business processes (IC-101), including creating flowcharts and perform walkthroughs of all in-scope ITGC processes
Who is the senior associate and/ or manager?
Uses confirmation.com to send out confirmations to banks to confirm year end cash balances
Who is the new associate or RISE?
Complete Evaluation of Control Deficiencies and Uncorrected and Corrected Misstatements and assess impact
Who is the manager or above on the engagement?
Manages client relationship throughout the year
Who is the engagement principal/ partner or director?
During scoping, I will do the initial identification of significant components or business units based on financial significance, fraud risks, prior audit results, and internal audit findings
Who is the manager?
Identify changes in IT systems through planning discussions and business process walkthroughs
Who is the IS Assurance team member(s)?
Who is the engagement manager or senior manager?
Prepare initial versions of the disclosure checklist?
Who is the audit associate or senior associate?
Identify, begin and finalize (if possible) consultations on complex auditing and accounting matters
Who is manager or above?
I'm responsible for ensuring that client acceptance and continuance is completed thoroughly
Who is the engagement partner?
Completes the Tax Planning Checklist in APT
Who are the Tax and engagement team members?
Conducts initial review of testing documents that are in process or completed
Who is the senior associate or above who did not prepare the workpaper?
Initial report tie out to audit workpapers
Who is the experienced or new associate?
Establish a schedule between company personnel and BDO personnel for meetings, inquiries, observing controls, etc.
Who is the engagement manager?
Create an engagement budget, a project plan and determine the resource structure of the audit, including IS Assurance, Tax and the need for any Specialists (e.g., VCMA)
Who is either the senior manager or director?
Understand the business by completing UTE, UIC-ELC, and Preliminary analytical review and
data analytics (include Tax and IS Assurance team members)
Who are the engagement team members?
Determines criteria for Journal Entry testing
Who is anyone manager or above?
Drafts required communications to those charged with governance
Who is the audit associate?
List and communicate requests to the company
Who is the Senior Associate?
Draft engagement letter to be reviewed by engagement partner
Who is the Experienced Associate or Senior Associate?
Assembles the preliminary analytical review
Who are the audit associates (new associates through senior associates)?
Communicates potential adjusting journal entries for errors found
Who is anyone senior associate and above?
Responsible for clearing review points on workpapers
Who is the preparer of the workpaper?
Monitors impact of new accounting or auditing standards on the engagement?
Who is the whole engagement team?