3 Planning preliminary considerations

Planning - Preliminary Considerations
ISA para

3 Planning - Preliminary Considerations
ISA para

3.1 Introduction

The planning process can be divided into seven key stages as follows: Appointment (see below) Risk assessment procedures (see chapter 4 of this section of the manual) Audit approach (see chapter 5 of this section of the manual) Administration (for this, and the other three stages below, see chapter 6 of this section of the manual) Team meeting Client service Client communication
Standard approach For more complex assignments and, almost certainly, new clients, we will adopt an approach that uses most or all of the standard Mercia documents.
The whole process is guided by the planning checklist on B11 of the current file. The first stage, appointment, consists of the consideration of six matters as follows.
New client procedures (see 3.2 below) Money laundering (see 3.3 below) Background Standard new client procedures Existing client procedures Acceptance of appointment / reappointment (see 3.4 below) Engagement quality control review (see 3.5 below) Opening balances and corresponding figures (see 3.6 below) Terms of engagement (see 3.7 below)