Pre-Engagement Phase
• Evaluating whether the engagement complies with ethical standards and independence requirements
• Understanding the relevant legislation affecting bodies corporate
• Defining the audit scope to include both financial and compliance aspects
• Establishing engagement terms and setting expectations with stakeholders

Planning Phase
• Incorporating the revised ISA 315 and ISA 330 into risk assessment and planning
• Identifying key audit risks, such as governance issues, non-compliance, and mismanagement of funds
• Developing audit procedures tailored to address both financial and compliance requirements
• Documenting the audit plan and strategy in working papers

Finalisation Phase
• Reviewing audit evidence to ensure sufficiency and proper documentation
• Preparing the audit report in line with regulatory standards, including reporting on compliance
• Reporting significant findings to those charged with governance
• Addressing IRBA expectations and inspection readiness
• Summarising brief income tax considerations for body corporates