In today's video, I'll walk you through the 9 steps of the audit process. I'll cover the engagement letter, what to expect in the engagement letter, the audit planning process, and what considerations the auditor might make as part of that process. Then I'll explain the audit of controls and systems and the importance of this part of the audit plan.

I will then explain what happens after the auditors have scheduled their audit engagement, then we move on to the physical inspection and on-site testing, gathering evidence, closing the process and appointing or reappointing the auditors at the AGM.

You might find this video useful if you are brand new to auditing or have recently secured a position as an auditor with Deloitte, Grant Thornton, PWC, KPMG, PWC or another accounting firm. Alternatively, you might find it useful if you are studying AAT Level 3 or AAT Level 4 (AAT External Auditing) and are trying to gain a good understanding of auditing and the audit process.

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This only applies to UK audits, however please be sure to seek professional advice from an accountant or auditor if you have any questions about audits as this video is for entertainment purposes only.

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