The purposes of the audit plan are, first, to contribute to the effectiveness of the audit and, second, to contribute to the audit efficiency. This memorandum should be completed and approved as part of the initial audit planning process. In completing this document, there may be occasions when matters already documented in other work papers are relevant. There is no need to re-write such material if a specific reference can be made.
This memorandum is structured so that planning documentation common to all projects is presented. All items should be read and considered on every project.