Initial planning activities include:

  • The acceptance of the client.
  • Verification of the independence requirements
  • Choosing the audit team, and
  • Determine the nature, timing, and extent of procedures to be performed in order to conduct the audit in an effective manner.

Risk assessment

Using knowledge of the business, the industry and the environment in which the company operates risk of misstatements is identified and assessed

Audit strategy and plan—

After the risk assessment is completed the overall strategy and the detail plan is developed. Testing are designed to detect misstatements.


Evidence is gathered and evaluated, such as test of internal controls, tracing amounts and disclosures to supporting books and records, external third party confirmation.


  • Summarizing the finding and developing conclusion based on the audit procedures performed.
  • Forming the audit opinion based on the conclusions.
  • Preparing the draft report for management responses.
  • Discuss the conclusion with management. The finding are discussed with management and staff throughout the audit process.
  • Prepare the final report.
  • Final report is sent to H E the Governor, Minister of Finance and the Clerk of the House of Assembly
  • The Minister of Finance lays the final report on the Table of the House of Assembly.
  • The final report is discussed at hearing of the Public Account Committee (PAC)