The delegates will be provided with a case study including all the information necessary for the client to perform the planning section. They will then need to complete the following planning sections: Programme changes and updates • New update process • Changes to groupings and sections • Updated document manager • Changes to the recording dialog - new risk record mode • Changes in the way controls are documented • Use of technology in an audit which includes the understanding of the use of IT by the entity and the understanding of IT risks and IT general controls • Core vs Extended options • Probe Small - A detailed risk assessment must be performed • New election in Probe Firm Settings whether walk­ through the Procedure should be elected per engagement or not • Procedures previously performed on audit programmes are moved to the risk assessment section and are now performed as Risk Assessment Procedures (RAP) • Certain audit considerations such as the use of experts, other practitioner, inventory count, and obtaining confirmations were moved to the Audit plan and strategy document (12.20) • New document to obtain an understanding of the complexity of the Information System • Individual assessments of identified inherent (IR), fraud (FR), and control (CR) risks at the financial statement level • The overall lR, FR, and CR at the financial statement level will be automated based on the auditor's assessment of the individual IR, FR and • CR at FS Level. • Evaluation of whether the entity's processes for the different components of the system of internal control is appropriate • New overall response(s) to address the assessed risks of material misstatement at the financial statement level. New terminology, concepts and requirements • New assertions and combinations of assertions • New risk assessment procedures (RAP) to obtain an understanding of the entity and its environment • Document the sources of information from which the understanding was obtained • Class of transaction or account balance ("COTAB") • Individual Account balance, class of transaction, and other disclosure ("COTABD") • Significant classes of transactions, account balances, and disclosures o (“SCOTABD) • Transactions related to account balances (“TRAB”) • Relevant assertions • Controls to be identified for purposes of evaluating the design of a control and determining whether the control has been implemented • Identification of the risk of material misstatement at the assertion level for COTABD and then assess only the identified risks of material misstatement at the assertion level • consideration of whether automated tools and techniques should be used to assist with obtaining an understanding of the entity and its environment and to perform risk • assessment procedures. • Extent of work needed for indirect and direct controls • Use of inherent risk factor spectrum of inherent risk • Likelihood and magnitude of a possible misstatement on a range from higher to lower, when assessing risks of material misstatement • Stand-back" provision to evaluate the completeness of SCOTABD • Design and perform substantive procedures for each material COTABD • Substantive procedures for SCOTABD, i.e., those with relevant assertions • Assertions to be tested for material COTABD Pre-engagement planning • 10.20 Engagement evaluation • 10.30 Discussion with management • 10.50 Gathering information • 10.51 Type and volumes of transactions • 10.52 Preliminary analytical procedures • 10.53 Understanding of accounting estimates • 10.55 Understanding the Information Technology Environment • 10.60 Overall assessment Planning and risk assessment procedures • 11.10 Risk assessment procedures • 10.20 Inherent risk assessment • 11.21 Laws and regulations • 11.25 Fraud risk assessment • 11.30 Evaluation of system on internal control • 11.50 Information system and control activities • 11.60 Risk assessment at the assertion level Audit planning • 12.20 Audit plan and strategy • 12.30 Planning memorandum • Work programs • New lead sheets • New layout of work programs based on the new risk assessment process

(Version 2023.00.056 (release 2) to be installed.

Auditors Second year SAICA trainees Third-year SAICA trainees Fourth year SAICA trainees Fifth year SAICA trainees Audit managers Audit partners Engagement Quality Control Reviewers