The Audit Team Leader should review relevant audit requirements (e.g., regulatory, internal, standard/guideline related) and complete the Financial Audit Plan Template. While developing the Audit Plan, the Audit Team Leader should conduct at least one Audit Team meeting for the purpose of discussing the upcoming Internal Audit and reviewing previous audit reports, Corrective Action Requests (CAR), and other relevant documents.
The Audit Team Leader should formalize the Financial Audit Plan Template in accordance with AC1050-2 AUDIT PLAN and publish and distribute copies of the Audit Plan to the Audit Team, key employees, and Audit Team members at least two weeks in advance of the audit opening date. The Audit Plan should include, at a minimum:
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