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Audit Plan

Auditor Contact Details:

Name: Michael Angelo E. Alberto
Position: Partner
Department: College Of Accountancy
Contact Number: 09154303630
Email Address:
Objective: To be able the auditee contact the auditor in case of queries and if there are
negotiation needed.
Auditee Contact details:
Name: Kriselda Domingo
Position: Governor
Department: College of Education
Contact Number:
Email Address:
Objective: To have contact on the auditee in case of clarification and other concerns before and
during the audit program.
The location to be audited:
The location must be agreed upon by both parties.
Objective: To be able to conduct the audit program with in the vicinity of both parties.
The scope of the audit:

The scope of the audit will be conducted in accordance with Philippine Standard on
Auditing, and will include such tests of transactions and of the existence, ownership
and valuation of assets and liabilities as we consider necessary and also to obtain
an understanding of the accounting systems and internal control systems in order to
assess their adequacy as a basis for the preparation of the accounts and to
establish whether proper books of accounts have been maintained by the College of
Education Council. It is expected to obtain such appropriate evidence as we
consider sufficient to enable us to draw reasonable conclusions there from. It also
Constitution and Bylaws of the Department

Sources of funds

Common expenses

Projects, programs and activities held during the Semester

Organizational structure

Accomplishment reports

Chart of Accounts

Financial Statements

Source documents such as invoices, receipts etc.

Objective: To properly assess the compliance with rules and regulation; the effectiveness and
efficiency of the operations and the reliability of the financial reports.
The scheduled time and proposed duration of the audit, including desk audit, site audit and
delivery of final report:
The audit period begins on second week of January and ends up to the first week of
March, this includes the Desk audit, Site audit and Delivery of final report.
Objective: to be able the auditee to have enough time to prepare and give sufficient and
appropriate information and documents that is needed on the audit program.
Date for receipt of desk audit documentation and time frame for review of documentation:
1 week after the meeting of both parties, to be specific 4th week of January for the receipt
and review of documentation.
Objective: To gather ample evidences in reviewing and clarifying issues prior to audit.
The preliminary agenda for the site audit:
To Deliberate the necessary audit procedures to be taken for the site audit.
Objective: to give the auditee ability to manage their daily work operations while the audit proceeds.
Proposed date for completion of follow up actions:
The proposed date for completion of follow up action is expected to close out of all audit
findings by 3rdweek or 4th week of February.
Objective: To prepare the audit reports needed.
Statements of confidentiality, OHS compliance and other business criteria:

Confidentiality of the information gathered in the audit and those related transactions are
confidential and must not disclose to any related parties without prior notice/authorization by the
Objective: To keep information private for both parties.
Reasons for termination of audit:
Reasons for the termination of audit includes:
Personal threat to the auditor
Fraud committed by both parties
Inappropriate disclosure of information
Non-compliance with the engagement contract.
Objective: to be able the audit will not be terminated both parties must comply to the agreement
with regards to this issues.
Actions or recourse in case of disagreement:
Both parties must review the engagement contract provided and possible actions must
take effect to resolve the issue.
Objectives: To take actions regarding the disagreement.