Some Issues about the Planning and Risks in the Assurance Engagements
Author:
Associate Prof. Ovidiu-Constantin BUNGET, Ph. D.; Associate Prof. Iulia Maria DAVID SOBOLEVSCHI, Ph. D.; Associate Prof. Aureliana Monica PETCU, Ph. D.; Raluca DREVE
JEL:
M42, M10, G32
DOI:
Keywords:
planning of the audit engagement, risks, audit of EU funded projects
Abstract:
The paper explores the manner in which the planning of the assurance engagements is currently perceived by the auditors, as well as the areas in which the planning approach or documentation could be altered or improved. The theoretical part of the paper emphasizes the main concepts regarding the audit planning, risks, plan and program. \r\nThe practical part of the article is directed towards two issues: on the one hand a analyze of the approach of the planning stage within the assurance engagements of an audit company, on the other hand a debate on the manner in which auditors associated in or employed by other companies on the market perceive the significance of this stage. As a result of these analyses, the authors proposed a general model to approach the planning stage, which improves its previous approach and documentation method. Their goal is to attach an increased significance to this stage, to consider the information gathered and the directions set in the planning stage all over the engagement.\r\n