Approved by the Order of Auditor chamber of the Azerbaijan Republic of March 24, 1999 No. 20

Audit planning

I. Introduction

1.1. This standard is prepared according to the Law of the Azerbaijan Republic "About auditing service" and the International auditing standards "Audit planning" (Audit planning).

1.2. The purpose of the standard consists in determination of the regulations applied by auditing organizations or independent auditors (further "auditor") when planning audit of the accounting (financial) report of business entity.

1.3. Standard tasks:

a) determination of the initial stage of planning of audit;

b) determination of the principles of preparation of the general plan and program of audit;

c) determination of procedure for preparation and creation of the general plan and program of audit.

1.4. When carrying out the audit providing preparation of official audit opinion, requirements of the standard are obligatory for all auditors, and in case of the voluntary audit which is not requiring preparation of audit opinion and also when rendering other auditor services they have advisory nature. In evasion cases from mandatory requirements of this standard in case of accomplishment of specific task the auditor shall note without fail it in the working documents, and also in the official report submitted by it to management of the business entity who ordered audit or other auditor services.

II. Appointment and principles of planning of audit

2.1. The auditor shall plan audit after the conclusion with business entity of the auditing contract.

2.2. Planning consists in preparation of the general plan of audit in which are specified audit scope, types of planned activities and terms of their execution, and also the audit programme determining amount, types and the sequence of the audit procedures necessary for preparation of the conclusion about the accounting (financial) report of business entity.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info