Engagement
Audit Planning
A structured engagement that turns material accounts, assertions, and residual risk into a plan your external auditors and committee can follow.
Who this is for
Finance leaders who need a clear audit plan before the external firm arrives — especially groups with several Hong Kong entities, new subsidiaries, or a committee that wants to see how materiality and risk connect to fieldwork.
What you receive
- Materiality and performance materiality framed for the consolidated group and material components
- An account–assertion risk matrix covering inherent risk, control reliance, and residual risk
- A fieldwork focus map: areas for substantive testing, walkthroughs, and observation
- A short briefing pack for the audit committee, written in plain language
- A working session with your preparers so the plan reflects how the ledger actually closes
What is not included
Statutory audit opinions, tax filings, and bookkeeping are outside this engagement. We plan and score risk; we do not replace your external auditor.
How the engagement runs
- Kick-off and document intake — trial balances, prior-year management letter points, organisation chart, and close calendar.
- Materiality workshop — agree benchmarks and thresholds with the CFO or controller.
- Risk scoring sessions — walk revenue, inventory, payables, related parties, and other material cycles by assertion.
- Plan drafting — produce the risk matrix and proposed fieldwork focus.
- Committee-ready review — refine wording and hand over the briefing pack.
Preparation we ask of you
Assign a single internal contact who can open ledgers and prior working papers. Block two half-day workshops with cycle owners. Share prior-year adjusted entries and known control gaps before the first session.
Constraints
We typically need at least four weeks before the external firm’s planning meeting. Multi-location inventory or complex revenue contracts may extend the timeline. Work is delivered in English; Cantonese discussion on-site is available when requested in advance.
Pricing basis
Fixed fee based on number of reporting entities, complexity of revenue and inventory, and whether prior-year points must be reworked. Starting fees appear on our Rates page. A deposit secures the kick-off week.
Next step
Request a scoping call with your year-end date and entity list.