## Overview

This module covers audit planning and risk assessment procedures, including audit risk components, materiality calculation, and audit strategy development. Topics include risk-based approach, analytical procedures, and audit documentation requirements.

## 1. Audit risk

- [Definition including inherent, control and detection risk](acca-fau-audit-risk-definition-including-inherent-control-and-detection-risk.md)
- [Risk-based approach to audit](acca-fau-audit-risk-risk-based-approach-to-audit.md)
- [Materiality concept and calculation](acca-fau-audit-risk-materiality-concept-and-calculation.md)

## 2. Understanding the entity and environment

- [Obtaining initial understanding of entity and framework](acca-fau-understanding-the-entity-and-environment-obtaining-initial-understanding-of-entity-and-framework.md)

## 3. Audit strategy and plan

- [Need for audit planning](acca-fau-audit-strategy-and-plan-need-for-audit-planning.md)
- [Contents of overall strategy and plan](acca-fau-audit-strategy-and-plan-contents-of-overall-strategy-and-plan.md)
- [Analytical procedures in planning](acca-fau-audit-strategy-and-plan-analytical-procedures-in-planning.md)
- [General planning issues including resources and IT](acca-fau-audit-strategy-and-plan-general-planning-issues-including-resources-and-it.md)
- [Role, advantages and disadvantages of audit programmes](acca-fau-audit-strategy-and-plan-role-advantages-and-disadvantages-of-audit-programmes.md)

## 4. Audit documentation

- [Reasons for maintaining documentation](acca-fau-audit-documentation-reasons-for-maintaining-documentation.md)
- [Purpose and contents of current and permanent files](acca-fau-audit-documentation-purpose-and-contents-of-current-and-permanent-files.md)
- [Quality management for review of working papers](acca-fau-audit-documentation-quality-management-for-review-of-working-papers.md)
- [Use of IT in documentation](acca-fau-audit-documentation-use-of-it-in-documentation.md)

Free ACCA FAU Audit Planning and Risk Assessment Study Guide