CLIENT MEETINGS

Meeting #1 (Phase 1, A&C)

Title Pre-engagement meeting
Nature Client Meeting
Convenor  All team members of the audit team
 Audit partner
 CFO

Participants  All team members of the audit team

 CFO

Purpose The purpose of this meeting is to discuss:

 The engagement proposal

 The audit fee with the client
 Firm's competence to perform the audit
 Ethical requirements for auditors
 Legal and regulatory requirements

Duration 20-25 Minutes

Reference Material  Acceptance and continuance checklist template
required for meeting  Client permanent file
preparations  Current audit file of the previous completed audit engagement

Decisions / Outcomes Prepare/update the following documents:

 Firm profile
 Draft audit proposal
 Duly completed independence checklist
 Duly completed continuance checklist
 Engagement letter
 Consent letter
 Assessment document for other services requested by the client (if any)

Student Assessment The firm staff will evaluate each student on the student evaluation form.
Meeting #2 (Phase 2, Planning)
Title Initial Meeting with the CEO
Nature Client Meeting
Convenor  All team members of the audit team
 Audit partner
 CEO

Participants  All team members of the audit team

 CEO

Purpose The purpose of this meeting is to discuss:

The last year audit experience

the internal and external organizational ecosystem
the overall audit timeline and the milestones
impact of Covid'19

Duration 20-25 Minutes

Reference Material
required for meeting  Laws and regulations of Audit
preparations  Audit Planning File Template

Decisions / Outcomes Prepare the following documents:

Document capturing assignment of Roles & Responsibility

Independence confirmation

Student Assessment The firm staff will evaluate each student on the student evaluation form.
Meeting #3 (Phase 2, Planning)
Title Initial Meeting with the CFO
Nature Client Meeting
Convenor  All team members of the audit team
 Audit partner
 CFO

Participants  All team members of the audit team

 CFO

Purpose The purpose of this meeting is to discuss:

 The financial management of the entity and financial reporting process

 Ask for financial statements
 Impact they face when there is a change in IFRS (like the one in
leasing)

Duration 20-25 Minutes

Reference Material
required for meeting  Laws and regulations of Audit
preparations  Audit Planning File Template

Decisions / Outcomes Prepare the following documents:

Document capturing assignment of Roles & Responsibility

Independence confirmation

Student Assessment The firm staff will evaluate each student on the student evaluation form.
Meeting #4 (Phase 2, Planning)
Title Initial meeting with the Finance Manager (Co-ordination role)
Nature Client Meeting
Convenor  All team members of the audit team
 Audit partner
 Finance Manager

Participants  All team members of the audit team

 Finance Manager

Purpose The purpose of this meeting is to discuss:

 The audit timeline and request information requirement

 Plan team resources & audit timeline
 Obtain audit plan sign-off

Duration 20-25 Minutes

Reference Material
required for meeting  Audit Planning File template
preparations  Relevant ISAs, IFRS
 Audit materiality and audit sampling

Decisions / Outcomes Prepare the following documents:

 Audit Plan
 Audit Program
 Identify business risks
 Overall Audit risk

Student Assessment The firm staff will evaluate each student on the student evaluation form.
Meeting #5 (Phase 2, Planning)
Title Initial Meeting with the Supply Chain Department
Nature Client Meeting
Convenor  Relevant team members of the audit team
 Audit partner
 Supply Chain Department

Participants  Relevant team members of the audit team

 Supply Chain Department

Purpose The purpose of this meeting is to:

 Perform preliminary analytical procedures related to supply chain

 Discuss supply chain processes
 Review the supply chain infrastructure of the client
 Evaluate/identify risks associated with supply chain department

Duration 20-25 Minutes

Reference Material
required for meeting  Internal control questionnaire for Supply chain department
preparations  Documentations regarding supply chain
 Initial supply chain risk/fraud assessment

Decisions / Outcomes Prepare the following documents:

 Document capturing supply chain's roles & responsibility

 Supply chain process documentations/flowcharts
 Risk Assessment Report including audit risk assessment and fraud risk
assessment of the Supply chain department.

Student Assessment The firm staff will evaluate each student on the student evaluation form.
Meeting #6 (Phase 2, Planning)
Title Initial Meeting with the Sales and Marketing Department
Nature Client Meeting
Convenor  Relevant team members of the audit team
 Audit partner
 Sales and Marketing Department

Participants  Relevant team members of the audit team

 Sales and Marketing Department

Purpose The purpose of this meeting is to:

 Perform preliminary analytical procedures related to sales and

marketing.
 Discuss sales and marketing processes
 Review the sales and marketing infrastructure of the client
 Evaluate/identify risks associated with sales and marketing department

Duration 20-25 Minutes

Reference Material
required for meeting  Internal control questionnaire for sales and marketing department
preparations  Documentations regarding sales and marketing
 Initial sales and marketing risk/fraud assessment

Decisions / Outcomes Prepare the following documents:

 Document capturing sales and marketing's roles & responsibility

 Sales and marketing process documentations/flowcharts
 Risk Assessment Report including audit risk assessment and fraud risk
assessment of the sales and marketing department.

Student Assessment The firm staff will evaluate each student on the student evaluation form.
Meeting #7 (Phase 2, Planning)
Title Initial Meeting with the Admin and HR Department
Nature Client Meeting
Convenor  Relevant team members of the audit team
 Audit partner
 Admin and HR Department

Participants  Relevant team members of the audit team

 Admin and HR Department

Purpose The purpose of this meeting is to:

 Perform preliminary analytical procedures related to Admin and HR

 Discuss Admin and HR processes
 Review the Admin and HR infrastructure of the client
 Evaluate/identify risks associated with Admin and HR department

Duration 20-25 Minutes

Reference Material
required for meeting  Internal control questionnaire for Admin and HR department
preparations  Documentations regarding Admin and HR
 Initial s Admin and HR risk/fraud assessment

Decisions / Outcomes Prepare the following documents:

 Document capturing Admin and HR's roles & responsibility

 Admin and HR process documentations/flowcharts
 Risk Assessment Report including audit risk assessment and fraud risk
assessment of the Admin and HR department.

Student Assessment The firm staff will evaluate each student on the student evaluation form.
Meeting #8 (Phase 2, Planning)
Title Initial Meeting with the IT Department
Nature Client Meeting
Convenor  Relevant team members of the audit team
 Audit partner
 IT Department

Participants  Relevant team members of the audit team

 IT Department

Purpose The purpose of this meeting is to:

 Perform preliminary analytical procedures related to IT

 Discuss IT processes
 Review the IT infrastructure of the client
 Evaluate/identify risks associated with the IT department

Duration 20-25 Minutes

Reference Material
required for meeting  Internal control questionnaire for IT department
preparations  Documentations regarding IT
 Initial IT risk/fraud assessment

Decisions / Outcomes Prepare the following documents:

 Document capturing IT's roles & responsibility

 IT process documentations/flowcharts
 Risk Assessment Report including audit risk assessment and fraud risk
assessment of the IT department.

Student Assessment The firm staff will evaluate each student on the student evaluation form.
Meeting #9 (Phase 2, Planning)
Title Initial Meeting with the Internal Audit Department
Nature Client Meeting
Convenor  Relevant team members of the audit team
 Audit partner
 Internal Audit Department

Participants  Relevant team members of the audit team

 Internal Audit Department

Purpose The purpose of this meeting is to:

 Perform preliminary analytical procedures related to Internal Audit

Department
 Discuss Internal Audit Department's processes
 Review the Internal Audit Department's infrastructure of the client
 Evaluate/identify risks associated with the Internal Audit Department

Duration 20-25 Minutes

Reference Material
required for meeting  Internal control questionnaire for Internal Audit Department
preparations  Documentations regarding Internal Audit Department
 Initial Internal Audit Department risk/fraud assessment

Decisions / Outcomes Prepare the following documents:

 Document capturing Internal Audit Department's roles & responsibility

 Internal Audit Department process documentations/flowcharts
 Risk Assessment Report including audit risk assessment and fraud risk
assessment of the Internal Audit Department.

Student Assessment The firm staff will evaluate each student on the student evaluation form.
Meeting #10 (Phase 3, Field Work)
Title Follow up Meeting with the Finance Manager
Nature Client Meeting
Convenor  Respective team member of the audit team
 Audit partner
 Finance Manager

Participants  Respective team member of the audit team

 Finance Manager

Purpose The purpose of this meeting is to:

 Discuss the information gathered

 Share audit findings
 Discuss adjustments (if any)
 Addressing identified audit risk or mistreatment

Duration 20-25 Minutes

Reference Material  FSLI area wise audit aid
required for meeting  Audit working paper file template
preparations  Relevant ISAs, IFRS
 Prior year Audit working papers
 Prior year's Audit adjustments
 Previous year's control weaknesses

Decisions / Outcomes Prepare the following documents and presentations for the next meeting:

 List of agreed audit adjustments

 Audit working sheets
 Further audit evidence
 Explanation on audit findings
 Comment on the control (weaknesses)

Student Assessment The firm staff will evaluate each student on the student evaluation form.
Meeting #11 (Phase 3, Field Work)
Title Follow up Meeting with the Supply Chain Department
Nature Client Meeting
Convenor  Respective team member of the audit team
 Audit partner
 Supply Chain Department

Participants  Respective team member of the audit team

 Supply Chain Department

Purpose The purpose of this meeting is to:

 Discuss the information gathered

 Share audit findings
 Discuss adjustments (if any)
 Addressing identified audit risk or mistreatment

Duration 20-25 Minutes

Reference Material  FSLI area wise audit aid
required for meeting  Audit working paper file template
preparations  Relevant ISAs, IFRS
 Prior year Audit working papers
 Prior year's Audit adjustments
 Previous year's control weaknesses

Decisions / Outcomes Prepare the following documents and presentations for the next meeting:

 List of agreed audit adjustments

 Audit working sheets
 Further audit evidence
 Explanation on audit findings
 Comment on the control (weaknesses)

Student Assessment The firm staff will evaluate each student on the student evaluation form.
Meeting #12 (Phase 3, Field Work)
Title Follow up Meeting with the Sales and Marketing Department
Nature Client Meeting
Convenor  Respective team member of the audit team
 Audit partner
 Sales and Marketing Department

Participants  Respective team member of the audit team

 Sales and Marketing Department

Purpose The purpose of this meeting is to:

 Discuss the information gathered

 Share audit findings
 Discuss adjustments (if any)
 Addressing identified audit risk or mistreatment

Duration 20-25 Minutes

Reference Material  FSLI area wise audit aid
required for meeting  Audit working paper file template
preparations  Relevant ISAs, IFRS
 Prior year Audit working papers
 Prior year's Audit adjustments
 Previous year's control weaknesses

Decisions / Outcomes Prepare the following documents and presentations for the next meeting:

 List of agreed audit adjustments

 Audit working sheets
 Further audit evidence
 Explanation on audit findings
 Comment on the control (weaknesses)

Student Assessment The firm staff will evaluate each student on the student evaluation form.
Meeting #13 (Phase 3, Field Work)
Title Follow up Meeting with the Admin and HR Department
Nature Client Meeting
Convenor  Respective team member of the audit team
 Audit partner
 Admin and HR Department

Participants  Respective team member of the audit team

 Admin and HR Department

Purpose The purpose of this meeting is to:

 Discuss the information gathered

 Share audit findings
 Discuss adjustments (if any)
 Addressing identified audit risk or mistreatment

Duration 20-25 Minutes

Reference Material  FSLI area wise audit aid
required for meeting  Audit working paper file template
preparations  Relevant ISAs, IFRS
 Prior year Audit working papers
 Prior year's Audit adjustments
 Previous year's control weaknesses

Decisions / Outcomes Prepare the following documents and presentations for the next meeting:

 List of agreed audit adjustments

 Audit working sheets
 Further audit evidence
 Explanation on audit findings
 Comment on the control (weaknesses)

Student Assessment The firm staff will evaluate each student on the student evaluation form.
Meeting #14 (Phase 3, Field Work)
Title Follow up Meeting with the IT Department
Nature Client Meeting
Convenor  Respective team member of the audit team
 Audit partner
 IT Department

Participants  Respective team member of the audit team

 IT Department

Purpose The purpose of this meeting is to:

 Discuss the information gathered

 Share audit findings
 Discuss adjustments (if any)
 Addressing identified audit risk or mistreatment

Duration 20-25 Minutes

Reference Material  FSLI area wise audit aid
required for meeting  Audit working paper file template
preparations  Relevant ISAs, IFRS
 Prior year Audit working papers
 Prior year's Audit adjustments
 Previous year's control weaknesses

Decisions / Outcomes Prepare the following documents and presentations for the next meeting:

 List of agreed audit adjustments

 Audit working sheets
 Further audit evidence
 Explanation on audit findings
 Comment on the control (weaknesses)

Student Assessment The firm staff will evaluate each student on the student evaluation form.
Meeting #15 (Phase 3, Field Work)
Title Follow up Meeting with the Internal Audit Department
Nature Client Meeting
Convenor  Respective team member of the audit team
 Audit partner
 Internal Audit Department

Participants  Respective team member of the audit team

 Internal Audit Department

Purpose The purpose of this meeting is to:

 Discuss the information gathered

 Share audit findings
 Discuss adjustments (if any)
 Addressing identified audit risk or mistreatment

Duration 20-25 Minutes

Reference Material  FSLI area wise audit aid
required for meeting  Audit working paper file template
preparations  Relevant ISAs, IFRS
 Prior year Audit working papers
 Prior year's Audit adjustments
 Previous year's control weaknesses

Decisions / Outcomes Prepare the following documents and presentations for the next meeting:

 List of agreed audit adjustments

 Audit working sheets
 Further audit evidence
 Explanation on audit findings
 Comment on the control (weaknesses)

Student Assessment The firm staff will evaluate each student on the student evaluation form.
Meeting #16 (Phase 4, Review)
Title Review Meeting with the CFO
Nature Client Meeting
Convenor  All team members of the audit team
 Audit partner
 CFO

Participants  All team members of the audit team

 CFO

Purpose The purpose of this meeting is to discuss:

 Audit findings
 Resulting financial statement adjustments
 Any discriminations in quantities or values

Duration 20-25 Minutes

Reference Material
required for meeting  Audit working paper file template
preparations  Relevant ISAs, IFRS
 Prior year Audit working papers
 Prior year's Audit adjustments

Decisions / Outcomes Prepare the following documents:

Cross- reference and reviewed working papers

Student Assessment The firm staff will evaluate each student on the student evaluation form.
Meeting #17 (Phase 5, Communication)
Title Overall audit discussion with the CEO
Nature Client Meeting
Convenor  All team members of the audit team
 Audit partner
 CEO

Participants  All team members of the audit team

 CEO

Purpose The purpose of this meeting is to discuss:

 the overall audit findings and the board letter
 Interpret audit evidence
 Evaluate various types of audit findings and assess their impact on
financial statement
 Understand audit opinion and its various types
 Appreciate the minimum requirements for audit report
 Comprehend the circumstances which require modification of audit
report

Duration 20-25 Minutes

Reference Material  Audit working paper file template
required for meeting  Prior year Audit working papers
preparations  Prior year's Audit adjustments

Decisions / Outcomes Prepare the following documents:

 Audit Summary Memorandum

 Summary of audit observations, adjustments & control weaknesses

Student Assessment The firm staff will evaluate each student on the student evaluation form.
Meeting #18 (Phase 5, Communication)
Title Overall audit discussion with the Audit Committee
Nature Client Meeting
Convenor  All team members of the audit team
 Audit partner
 Audit Committee

Participants  All team members of the audit team

 Audit Committee

Purpose The purpose of this meeting is to discuss:

 the overall audit findings and the board letter
 Interpret audit evidence
 Evaluate various types of audit findings and assess their impact on
financial statement
 Understand audit opinion and its various types
 Appreciate the minimum requirements for audit report
 Comprehend the circumstances which require modification of audit
report

Duration 20-25 Minutes

Reference Material  Audit working paper file template
required for meeting  Prior year Audit working papers
preparations  Prior year's Audit adjustments

Decisions / Outcomes Prepare the following documents:

 Audit Summary Memorandum

 Summary of audit observations, adjustments & control weaknesses

Student Assessment The firm staff will evaluate each student on the student evaluation form.
Meeting #19 (Phase 5, Communication)
Title Audit Conclusion with the Annual General Meeting
Nature Client Meeting
Convenor  All team members of the audit team
 Audit partner
 Annual General Meeting

Participants  All team members of the audit team

 Annual General Meeting

Purpose The purpose of this meeting is to:

 Share audit findings and discuss

 Make any last minute adjustments

Duration 20-25 Minutes

Reference Material  Audit working paper file template
required for meeting  Prior year Audit working papers
preparations  Prior year's Audit adjustments

Decisions / Outcomes Prepare the following documents:

 Finalized Audit Report

 Audit Committee/ Board of directors' presentation
 Summary of audit observations, adjustments & control weaknesses

Student Assessment The firm staff will evaluate each student on the student evaluation form.
 Audit Team Meetings
Meeting #1 (Phase 1, A&C)
Title Pre-proposal Meeting
Nature Internal Meeting
Convenor  All team members of the audit team
 Audit partner

Participants  All team members of the audit team

 Audit partner

Purpose The purpose of this meeting is to discuss:

 Client request for proposal (REP)

 Client profile
 Identify client risk and firm reputation risk
 Firm independence assessment
 Continuance decision assessments

Duration 20-25 Minutes

Reference Material  Client permanent file
required for meeting  Client RFP
preparations
Decisions / Outcomes Prepare the following documents:

 Draft audit proposal

 Duly completed independence checklist
 Duly completed continuance checklist

Student Assessment The firm staff will evaluate each student on the student evaluation form.
Meeting #2 (Phase 2 ,Planning)
Title Audit Planning with Partner
Nature Internal Meeting
Convenor  All team members of the audit team
 Audit partner

Participants  All team members of the audit team

 Audit partner

Purpose The purpose of this meeting is to discuss:

 Client profile
 Teamwork assignments
 Audit Timeline

Duration 20-25 Minutes

Reference Material
required for meeting
preparations
Decisions / Outcomes Prepare the following documents:

Student Assessment The firm staff will evaluate each student on the student evaluation form.
Meeting #3 (Phase 2 , Planning )
Title Audit Planning with Partner
Nature Internal Meeting
Convenor  All team members of the audit team
 Audit partner

Participants  All team members of the audit team

 Audit partner

Purpose The purpose of this meeting is to :

 Review audit plan

 Audit strategy of the engagement

Duration 20-25 Minutes

Reference Material 
required for meeting
preparations
Decisions / Outcomes Prepare the following documents:

Student Assessment The firm staff will evaluate each student on the student evaluation form.
Meeting # 4 (Phase 2, Planning)
Title Audit Planning with the team
Nature Internal Meeting
Convenor  All team members of the audit team
 Audit Manger
 Audit Partner

Participants  All team members of the audit team

 Audit Manger
 Audit Partner

Purpose The purpose of this meeting is to :

 Share the progress

 Discuss any challenges faced

Duration 20-25 Minutes

Reference Material 
required for meeting
preparations
Decisions / Outcomes Prepare the following documents:

Student Assessment The firm staff will evaluate each student on the student evaluation form.
Meeting #5 (Phase 2,Planning )
Title Peer Review
Nature Internal Meeting
Convenor  All team members of the audit team

Participants  All team members of the audit team

Purpose The purpose of this meeting is to:

 Perform Peer review of the planning documents

Duration 20-25 Minutes

Reference Material 
required for meeting
preparations
Decisions / Outcomes Prepare the following documents:
Meeting # 6 (Phase 3, Field Work )
Title Field Work Review with the team
Nature Internal Meeting
Convenor  All team members of the audit team
 Audit partner
 Audit Manager

Participants  All team members of the audit team

 Audit partner
 Audit Manager

Purpose The purpose of this meeting is to :

 Share the progress

 Discuss any challenges faced

Duration 20-25 Minutes

Reference Material 
required for meeting
preparations
Decisions / Outcomes Prepare the following documents:

Student Assessment The firm staff will evaluate each student on the student evaluation form.
Meeting # 7 (Phase 3, Field Work )
Title Field Work Review with the team
Nature Internal Meeting
Convenor  All team members of the audit team
 Audit partner
 Audit Manager

Participants  All team members of the audit team

 Audit partner
 Audit Manager

Purpose The purpose of this meeting is to :

 Review the work performed

 Discuss the Evidence gathered

Duration 20-25 Minutes

Reference Material 
required for meeting
preparations
Decisions / Outcomes Prepare the following documents:

Student Assessment The firm staff will evaluate each student on the student evaluation form.
Meeting # 8 (Phase 3, Field Work )
Title Field Work Review with the team
Nature Internal Meeting
Convenor  All team members of the audit team

Participants  All team members of the audit team

Purpose The purpose of this meeting is to :

 Perform peer review of other audit areas

Duration 20-25 Minutes

Reference Material 
required for meeting
preparations
Decisions / Outcomes Prepare the following documents:

Student Assessment The firm staff will evaluate each student on the student evaluation form.
Meeting # 7 (Phase 3, Field Work )
Title Audit Planning
Nature Internal Meeting
Convenor  All team members of the audit team
 Audit partner
 Audit Manager

Participants  All team members of the audit team

 Audit partner
 Audit Manager

Purpose The purpose of this meeting is to :

 Share the progress

 Discuss any challenges faced

Duration 20-25 Minutes

Reference Material 
required for meeting
preparations
Decisions / Outcomes Prepare the following documents:

Student Assessment The firm staff will evaluate each student on the student evaluation form.
Meeting # 6 (Phase 3, Field Work )
Title Audit Planning
Nature Internal Meeting
Convenor  All team members of the audit team
 Audit partner
 Audit Manager

Participants  All team members of the audit team

 Audit partner
 Audit Manager

Purpose The purpose of this meeting is to :

 Share the progress

 Discuss any challenges faced

Duration 20-25 Minutes

Reference Material 
required for meeting
preparations
Decisions / Outcomes Prepare the following documents:

Student Assessment The firm staff will evaluate each student on the student evaluation form.
Meeting #8 (Phase 3 ,Field Work )
Title Peer Review
Nature Internal Meeting
Convenor  All team members of the audit team

Participants  All team members of the audit team

Purpose The purpose of this meeting is to :

 Perform Peer review of other audit areas

Duration 20-25 Minutes

Reference Material 
required for meeting
preparations
Decisions / Outcomes Prepare the following documents:

Student Assessment The firm staff will evaluate each student on the student evaluation form.
Meeting #9 (Phase 4, Audit conclusion )
Title Audit Conclusion with the Partner
Nature Internal Meeting
Convenor  All team members of the audit team
 Audit Partner

Participants  All team members of the audit team

 Audit Partner

Purpose The purpose of this meeting is to :

 Discuss the overall review of the audit (assessment of the audit

procedures performed and audit evidence obtained)

Duration 20-25 Minutes

Reference Material 
required for meeting
preparations
Decisions / Outcomes Prepare the following documents:

Student Assessment The firm staff will evaluate each student on the student evaluation form.
Meeting #10 (Phase 5, Communication )
Title Finalization of the Audit Report
Nature Internal Meeting
Convenor  All team members of the audit team
 Audit Partner

Participants  All team members of the audit team

 Audit Partner

Purpose The purpose of this meeting is to :

 Review the audit report and other communication with TCWG

Duration 20-25 Minutes

Reference Material 
required for meeting
preparations
Decisions / Outcomes Prepare the following documents:

Student Assessment The firm staff will evaluate each student on the student evaluation form.