This non-authoritative EBPAQC tool may be used by firms in planning and summarizing internal planning meetings with EBP audit staff. It is intended to be used as a data collection tool to assist in the planning process. The document should be populated with prior year client information in advance of the internal planning meeting and updated during or after the meeting, including:
General information about the plan under audit
Prior and current year risks specific to the plan
Important plan provisions
Audit selections/procedures
Timing
Status of letters
Engagement budget
This tool is for planning purposes only and is not intended to be a permanent part of the firm’s audit documentation under AU-C section 230, Audit Documentation.