The Audit Test Plan serves as the foundational document for planning and executing audit engagements in Malta. This document is required for all statutory audits and must comply with the Maltese Companies Act, EU audit regulations, and International Standards on Auditing. The Audit Test Plan is typically prepared at the beginning of each audit engagement and includes detailed risk assessments, materiality calculations, resource allocation, and specific testing procedures. It must address both Malta-specific requirements and international audit standards, particularly for regulated entities or public interest entities. The plan is essential for ensuring audit quality, maintaining documentation standards, and demonstrating compliance with regulatory requirements to the Malta Financial Services Authority and other relevant regulators.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
1. Executive Summary: Overview of the audit scope, objectives, and key focus areas
2. Engagement Information: Basic details about the client, audit period, team members, and key contacts
3. Risk Assessment: Identification and evaluation of audit risks, including inherent, control, and detection risks
4. Materiality Determination: Calculation and justification of materiality levels for the audit
5. Resource Allocation: Details of team structure, responsibilities, and time budgets
6. Audit Strategy: Overall approach to the audit, including reliance on controls and substantive testing
7. Key Testing Procedures: Detailed testing approaches for significant account areas and assertions
8. Quality Control Measures: Specific quality control procedures to be implemented during the audit
9. Reporting Timeline: Key dates and deadlines for fieldwork, review, and reporting
10. Communication Plan: Protocol for communication with client management and those charged with governance
1. Industry-Specific Considerations: Additional procedures required for specific industries (e.g., financial services, gaming)
2. Group Audit Considerations: Required when the entity is part of a larger group structure
3. IT Systems Review: Detailed IT audit procedures when significant reliance is placed on information systems
4. Related Party Procedures: Enhanced procedures when significant related party transactions exist
5. Regulatory Compliance Testing: Additional procedures for regulated entities
6. Going Concern Assessment: Enhanced procedures when going concern risks are identified
7. Fraud Risk Procedures: Additional procedures when elevated fraud risks are identified
1. Appendix A - Detailed Risk Matrix: Comprehensive risk assessment worksheet for all significant accounts
2. Appendix B - Sampling Methodology: Detailed sampling approaches and sample size calculations
3. Appendix C - Testing Programs: Detailed step-by-step testing procedures for each significant account
4. Appendix D - Timeline Schedule: Detailed project timeline with milestones and responsibilities
5. Appendix E - Budget Analysis: Detailed time and resource allocation by audit area
6. Appendix F - Prior Year Issues: List of prior year findings and follow-up procedures
7. Appendix G - Client Assistance Schedule: Detailed list of documents and information required from the client
8. Appendix H - Quality Control Checklist: Detailed quality control procedures and sign-off requirements
Find the exact document you need
Audit Program For Accounts Payable
A structured audit program for examining accounts payable processes and controls, tailored to Malta's regulatory requirements and business environment.
Download
Audit Test Plan
A strategic document outlining the audit methodology and procedures for a Maltese audit engagement, complying with local and EU regulations.
Download
Compliance Audit Manual
A comprehensive compliance audit manual aligned with Maltese and EU regulatory requirements, providing structured guidance for conducting compliance audits in Malta.
Download
Audit Assertions For Cash
A formal audit document under Maltese law that provides assertions and evidence regarding an entity's cash and cash equivalents, complying with local and EU requirements.
Download
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)