account no of all Bank Accounts in the name of Entity. 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 8.4 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 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 post-planning 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 risk assessment form. P R 5.15 Preparing Inherent risk assessment form. P R 5.16 Developing Internal control questionnaire - controls for overall environment. P R 5.17 Documentation of the internal control questionnaire – general computer controls. P R
5.18 Documenting Internal control questionnaire – application controls. P R 5.19 Developing Control risk assessment form. P R 5.20 Documenting Analytical procedures assurance form. P R Updating optimum combination of procedures. P R 5.21 Documenting Source of audit assurance form. P R 5.22 Listing all applicable laws and regulations. P S R 5.23 Documenting and Updating Sample selection checklist. P S R 5.24 Preparing High value item selection form. P R 5.25 Preparing Key item selection form. P R 5.26 Computing Sample sizing for tests of internal control. P R 5.27 Calculating Sample size for substantive tests of details. P R 5.28 Documenting Checklist of accounting estimates to be reviewed. P R 5.29 Recording Points for attention at next audit. P S R 5.30 Documenting Audit planning checklist. P R A A=Approve R=Review S=Supervise P=Perform
8.5 Key Tasks and Responsibilities: Audit Execution Phase Guideline reference 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 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 8.6 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 Evaluation – Projectable Errors from Sample. P S R 7.9 Documenting Substantive Tests Evaluation – Errors. P S-R 7.10 Calculating Substantive 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 7.21 Reviewing the Quality Assurance Checklist P R A=Approve R=Review S=Supervise P=Perform 8.7 Key Tasks and Responsibilities: Audit Quality Assurance Guideline reference TASKS RESPONSIBILITIES AO/Assistant Director Deputy Director Director Director General Planning 5.3 Review that Planning has been carried out as per the recommended planning process. R S FAM 15.3.6 Assigning Appropriate staff, required strength and skill set of the audit team. P R FAM 15.3.7 Preparation, revision and approval of the Audit Budget. P R A 5.30 Ensuring that audit programs are in place as required in Audit Policy Checklist. P R Execution 5.8 Ensuring revision of the planning decisions, if required. P R A Supervision of all phases of execution as per the tasks assigned in “key tasks related to execution phase” list. P R-S
AUDITOR-GENERAL OF PAKISTAN PERMANENT FILE Permanent File Index/Checklist 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 Accounting Policies Chart Of Accounts Environmental laws and regulations Long-term contracts/and leases Loan agreements, mortgages, debt instruments