This document outlines the procedures for finalizing an audit, including: 1) Performing final analytical reviews to assess reasonableness of accounting estimates and consistency with prior periods and forecasts. 2) Reviewing for contingent liabilities and subsequent events. 3) Completing questionnaires to ensure compliance with auditing standards and that all necessary procedures were performed. 4) Accumulating and evaluating all audit evidence before issuing an audit report and communicating with management.

1. Prepared by
Marzanur Rahman
Audit completion

2. Final Analytical Review
 Comparison of result of current year with
• information for prior periods;
• those anticipated in budgets or forecasts;
• other companies of comparable size in the
same industry, and
• overall industry or sector statistics

3. Final Analytical Review
 Consider relationships between
• Actual and expectation or predicted financial
information
• Financial and non-financial information
Consider the reliability of the information used to
perform analytical review procedures
Make a final assessment of the reasonableness of the
company's accounting estimates
Consider whether the accounting estimates are
consistent with other audit evidence obtained

4. Review for Contingent Liabilities
 Materiality of Transaction
 Probability of Occurrence
 Journal Entries for Probable Events
 Undisclosed Liabilities
 Accounting for Subsequent Events

5. Review for Subsequent Event
 Adjusting event
An event after the reporting period that provides
further evidence of conditions that existed at the end of
the reporting period, including an event that indicates
that the going concern assumption in relation to the
whole or part of the enterprise is not appropriate.
 Non-adjusting event
An event after the reporting period that is indicative of
a condition that arose after the end of the reporting
period.

6. Review for Subsequent Event
 Points under consideration
• Review the basis of estimation and re-calculation
• Management explanation
• Effect on financial statement
• Review the evidence
• Obtain Management representation

7. Critical Review of Accounts Questionnaire
A final critical review of the accounts should be
performed support the conclusions drawn from other
audit work or else indicate areas in need of further
enquiry.

8. Audit Standards Review Questionnaire
This should be the final form to be completed before
the initial partner completion. The purpose of the form
is to ensure compliance with the Bangladesh Standards
on Auditing (BSA). It can be a useful aid when
completing a review of the file.

9. Audit Standards Review Questionnaire
Standard under review
 ICAB code of conduct and IFAC code of Ethic has
been followed before taking the audit – BAS 200
 Complicacy arises during the audit - BAS 210
 Quality control procedure of audit to client – BAS
220
 Documentation to form the opinion- BAS 230
 Activity has been performed to keep audit risk low –
BAS 240
 Review the compliance of rules & regulation – BAS
250
 Effect of unadjusted error – BAS 260
 Documentation of audit file – BAS 315

10. Audit Standards Review Questionnaire
 Review of audit materiality – BAS 320
 Risk assessment review – BAS 330
 Audit evidence regarding presentation and disclosure
– BAS 501
 Alternative procedure of audit – BAS 505
 Consideration of previous audit – BAS 510
 Evidence of analytical review – BAS 520
 Appropriateness of audit Samplings – BAS 530
 Reasonableness of accounting estimate – BAS 540
 Disclosure regarding related party – BAS 550
 Review of post balance sheet transaction - BAS 560

11. Audit Standards Review Questionnaire
 Test of going concern basis – BAS 570
 Adequacy of management representation – BAS
580
 Use the work of other auditor – BAS 600
 Adequate consideration has given to observe
operational control of entity - BAS 610
 Consistence of audit evidence with opinion – BAS
700
 Unaudited corresponding figure – BAS 710
 Other information related to financial statement
BAS -720

12. Partner Completion – Initial
The final partner completion should be completed
when the client has returned the signed accounts. It
provides a checklist to ensure all necessary procedures
have been undertaken before the audit report is signed.

13. Partner Completion – Final
The final partner completion should be completed
when the client has returned the signed accounts. It
provides a checklist to ensure all necessary procedures
have been undertaken before the audit report is signed.

14. File Completion Questionnaire Pre-Partner Review
A senior member of staff on the audit should complete
the completion questionnaires.
The first section (B3.1) should be completed before the
initial partner review. The second section (B3.2) should
be completed before the partner authorizes the issue of
accounts to the client for approval.

15. Accumulation of Evidence and Evaluate Result
The objective of the auditor is to evaluate the results of
the audit to determine whether the audit evidence
obtained is sufficient and appropriate to support the
opinion to be expressed in the auditor's report.

16. Issuing Audit Report & Communication with
Management
Issue audit report and communicate those charged
with the governance

17. Thank You
For you Patience