AO/Assistant Director Deputy Director Director Director General 4.4 Developing and Updating the control sheet-PF P S R 4.5 Updating Status of Entity Form/information. P R 4.6 Gathering and updating financial & Operational background Information. P S R Documenting the Background Information. P S-R 4.7 Listing all the possible Auditable Locations. P R 4.8 Listings of names address and account no of all Bank Accounts in the name of Entity. P R 4.9 Documentation and Listing Authorized Signatories. P R 4.10 Listing External Factors related to performance of the operational activities of an auditee. P R 4.11 Listing the accounting records maintained by the auditee. P R Development of a brief description of the accounting system used by the auditee. P R 4.12 Listing Key Contacts. P S-R 4.13 Listing Significant Audit Areas. P S-R A Updating determination of components. P R
4.14 Listing Significant Accounting Policies. P R Update and review of Significant Accounting policies. P R Review and Sign Off of all the forms within the Permanent File. R A A= Approve, R= Review, S=Supervise, P=Perform Key Tasks and Responsibilities: Audit Planning Phase Guideline Reference TASKS RESPONSIBILITIES AO/Assistant Director Deputy Director Director Director General 5.4 Determining Audit objectives and scope. P 5.5 Listing/ Updating Points for attention at next audit. P S R 5.6 Preparing/Issuing Entity communication letter. P R A 5.7 Preparing Audit planning memorandum. P R 5.8 Revising Memorandum on changes. P R 5.9 Scheduling Important dates. P R 5.10 Preparing Tour Program.. P S R A 5.11 Pursuing Information requested from entity officials. P S 5.12 Preparing Materiality assessment form P R A 5.13 Computing Expected aggregate error and planned precision form. P R 5.14 Preparing Audit risk assessment form. P R 5.15 Preparing Inherent risk assessment form. P R
Guideline Reference TASKS RESPONSIBILITIES AO/Assistant Director Deputy Director Director Director General 6.4 Documenting Summary of Analytical Review Procedures Performed. P R 6.5 Documenting Details of Analytical Review Procedures Performed. P S R 6.6 Documenting Internal Control Questionnaires. P R 6.7 Documenting Internal Control Deviations Form. P R 6.8 Preparing Internal Control Deviations Summary. P R 6.9 Preparing Compliance Summary. P R 6.10 Documenting Substantive Tests of Accounting Estimates. P R 6.11 Identifying and listing Errors in Accounting Estimates. P R 6.12 Documenting Substantive Test Sample Summary for each Audit Program. P S R 6.13 Preparing Substantive Test of High Value/Key Items – Summary. P R 6.14 Documenting Details of Errors in Samples, High Value Items and Key Items. P R 6.15 Conducting Exit Interviews. P S 6.16 Updation of Audit Steps given in the Audit Programmes, if needed. P R S 6.16 Execution of Audit Steps as per the Audit Program P P-S S-R Ascertaining Execution of relevant Audit Programs P P-S S A= Approve, R= Review, S=Supervise, P=Perform
Key Tasks and Responsibilities: Audit Evaluation & Reporting Phase Guideline Reference TASKS RESPONSIBILITIES AO/Assistant Director Deputy Director Director Director General 7.4 Documenting Internal Control Weaknesses – Impact Analysis. P R 7.5 Calculating Analytical Procedure Thresholds. P R S 7.6 Documenting Evaluation of Analytical Procedures. P R 7.7 Evaluating Internal Control Deviations. P R 7.8 Conducting Substantive Tests Evaluation – Projectable Errors from Sample. P S R 7.9 Documenting Substantive Tests Evaluation – Non-Projectable Errors. P S-R 7.10 Calculating Substantive Tests Evaluation – Summary. P S-R 7.11 Documenting Achieved Level of Assurance Form. P R 7.12 Evaluating Error in Each Component. P R S 7.13 Summarizing and preparing Overall Error in Financial Statements. P R S 7.14 Documenting Violations. P P-S R 7.15 Drafting Checklist of Management Representation Letter. P S R 7.16 Obtaining Management Representation Letter. P R 7.17 Documenting Audit Completion Checklist. P R-S A 7.18 Memorandum Supporting Signature. P R A 7.19 Recommending Auditor’s Opinion P R-A 7.20 Following up the Continuity Schedule P R-S
Main Reference Supporting Schedules Done by: Date: PF PF-I PF-II PF-III PF-IV PF-V PF-VI PF-VII PF-VIII PF-IX PF-X Update Control Sheet Status of the Entity Background Information List of Auditable Locations List of Bank Accounts List of Authorised Signatories External Factors Accounting Records and Accounting System Key Contacts Significant Audit Areas Significant Accounting Policies Supporting Documents List Corporate Plan (Mission, Vision, Objectives) Financial Rules/Laws & Regulations/Service Rules Organization Chart Accounting Policies Chart Of Accounts Environmental laws and regulations Long-term contracts/and leases Loan agreements, mortgages, debt instruments Amortization schedules of major assets AUDITOR-GENERAL OF PAKISTAN Form - PF PERMANENT FILE UPDATE CONTROL SHEET