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As part of the process, accountants are required to plan their engagements by:

  • Determining the appropriateness of the client,
  • Establishing the services to be performed,
  • Reviewing the client's trial balance data and setting materiality,
  • Developing their overall strategy and,
  • Communicating their expectations and commitments to the client.

To assist the accountant in this process, tools are provided to systematically provide a framework within which the accountant can properly plan their approach. Key documents provided in the planning section of the template may include:

  • Letters
  • Materiality
  • Financial statement areas worksheet
  • Firm deliverables and client information

Keystone pages

  • Planning Documentation

    The template provides documents to assist in client acceptance or continuance, develop an overall audit strategy, and establish firm deliverables.

  • Checklists

    Checklists contain procedures to address the engagement as a whole and for the planning, risk assessment, risk response and completion phases of the engagement. These topics provide more information on managing the checklists for your audit engagement.

  • Materiality and the FSA Worksheet

    The Materiality documents allow you to plan and determine materiality for the engagement. Once materiality is calculated, it is recommended to assess materiality in the FSA.