We develop an efficient audit concept and by means of an audit strategy we determine the key issues of the audit. In order to implement this concept, we agree on a time schedule and on the scope of our audit activities. We document the audit strategy in a multiannual and ongoing audit planning.
We will focus the key issues of our audit systematically on the respective risk situation of the client, the identified critical success factors and on the relevant requirements of national and international accounting regulations and standards. We will also give adequate consideration to the testing results of process validations and control tests for the assessment of the internal control system.
Before completion of our written audit report, we will discuss the audit results with our clients by means of a draft of the audit report. Type and scope of the discussion as well as the participants have to be determined conjointly with the client.
In a subsequent debriefing session we jointly analyse the audit with our clients, in order to identify possible improvement potentials for future audits.