1. Engagement Setup & Planning
o Data collection, understanding the entity and its environment
o Preparation of audit planning documentation
o Performing preliminary analytical procedures
o Assisting in risk assessment and identification of key audit areas
2. Execution
o Preparation of lead schedules and supporting schedules
o Performing substantive testing
o Core Audit & Internal control testing
o Performing reconciliations and analytical review procedures
o Preparing working papers in accordance with Audit Standards
3. Completion
o Preparation of financial statements and disclosures
o Preparation of audit summaries
o Finalization of audit working paper files
o Supporting documentation for partner and manager review