ISA 200–720
IFRS / IAS
Oman OAAA
CCL Art. 132
Template metadata
| Field | Value |
|---|
| code | TPL-AA |
| name | Annual Audit |
| requires_workpapers | 1 (auto-seeds 12 workpapers + 79 procedures) |
| requires_eqcr | true if client.is_listed=1; configurable per-job |
| est_total_hours | ~120-180 (small SME); 300-500 (mid-size) |
| typical duration | 4-8 weeks (SME), 8-16 weeks (mid-size) |
| skills_required | IFRS general, ISA 200/220/300/315/320/450, sample selection, materiality, sign-off authority |
| deliverables | Auditor's Report (signed PDF) · 4 FS pack PDFs · 24 notes · Management letter (optional) |
| quality_criteria | EQCR signed (if listed) · 0 outstanding mandatory disclosures · 0 open RPs · all WPs locked · TB balanced after AJEs |
The 8 task phases (with checklist counts)
Phase 1 · PLANNING
| Seq | Task | Items | Key references |
|---|
| 1 | Engagement acceptance & independence | 8 | ISA 210, ISA 220.19, IFAC §290 |
| 2 | Understanding the entity & environment | 10 | ISA 315, ISA 315.11, ISA 315.14 |
| 3 | Risk assessment & materiality | 9 | ISA 240, ISA 240.32, ISA 320, ISA 320.A12 |
| 4 | Audit strategy & team allocation | 6 | ISA 300, ISA 300.A19, ISA 220 |
Phase 2 · FIELDWORK
| Seq | Task | Items | Workpaper |
|---|
| 5 | Cash & bank substantive testing | 5 procedures | B-100 |
| 6 | Receivables — confirmations + ECL | 7 procedures | C-100 |
| 7 | Inventory — count + NRV | 8 procedures | D-100 |
| 8 | PPE — additions, depreciation, impairment | 9 procedures | E-100 |
| 9 | Payables — search for unrecorded liabilities | 5 procedures | F-100 |
| 10 | Revenue — recognition, cut-off, completeness | 8 procedures | G-100 |
| 11 | OpEx — vouching, accruals, related-party | 5 procedures | H-100 |
| 12 | Equity — share capital, legal reserve, dividends | 4 procedures | I-100 |
| 13 | Tax — VAT recon, CIT, deferred tax | 6 procedures | J-100 |
| 14 | Going concern | 5 procedures | K-100 |
| 15 | Subsequent events | 4 procedures | L-100 |
Phase 3 · REPORTING
| Seq | Task | Items | Module |
|---|
| 16 | FS line mapping (TB → SFP/SPL lines) | 5 | M19 FS Mapping |
| 17 | Generate SFP / SPL / SCF / SOCIE | 6 | M19 FsService |
| 18 | Draft 24 FS notes | 24 | M19 fs_notes |
| 19 | Disclosure compliance checklist (120+ items) | 120+ | M19 DisclosureService |
| 20 | Draft Auditor's Report (ISA 700) | 14 | M19 AuditReportService |
Phase 4 · REVIEW
| Seq | Task | Stage |
|---|
| 21 | Senior review of all 12 workpapers | Stage 2 of sign-off |
| 22 | Manager review | Stage 3 |
| 23 | Resolve all open review points | Per workpaper |
| 24 | Partner final review | Stage 4 |
| 25 | EQCR independent review (listed only) | Stage 5 |
| 26 | Audit completion gate | Verdict screen |
Phase 5 · ADMIN
| Seq | Task | Action |
|---|
| 27 | Partner signs final audit report | Sign + finalise |
| 28 | Issue to client (email + signed PDF + FS pack) | M17 outbound email |
| 29 | Lock engagement (read-only forever) | job.status = archived |
| 30 | Build SHA-256 archive ZIP | VaultBackupService |
| 31 | Off-site sync to remote | cron-offsite-backup.sh |
| 32 | Auto-draft + send tax invoice | M11 auto-invoice |
| 33 | Update client record (last audit date, fee history) | M04 |
Cross-link to the audit-flow manual
For the regulatory + procedural deep-dive on each phase of the AA audit lifecycle, see the dedicated audit manual:
Worked timeline — small Oman SME audit (FY 2025)
| Week | Phase | Activities |
|---|
| W-2 (pre-fieldwork) | Planning | Engagement letter signed · independence confirmed · A-100 risk + materiality |
| W-1 | Planning | TB requested · team kick-off · prior-year file review |
| W1 | Fieldwork | TB received + imported · auto-seed 12 workpapers · B-100 Cash + C-100 AR confirmations sent |
| W2 | Fieldwork | D-100 Inventory count attended · E-100 PPE inspection · F-100 unrecorded-liability search |
| W3 | Fieldwork | G-100 Revenue cut-off + I-100 Equity reserve check · H-100 OpEx vouching · J-100 VAT/CIT recon |
| W4 | Reporting | Adjusted TB locked · 9 AJEs posted · K-100 Going Concern + L-100 Subsequent · FS mapping · SFP/SPL/SCF/SOCIE generated |
| W5 | Reporting | 24 FS notes drafted · disclosure checklist 120 items walked · audit-report draft |
| W6 | Review | Senior + Manager review (RPs raised + cleared) |
| W7 | Review | Partner final review · completion gate green · 12 workpapers locked |
| W8 | Admin | Partner signs report · issue to client · lock engagement · build archive · auto-draft invoice |
Try thisOpen a TPL-AA job in the demo data → walk Phase 1 task 1 (Engagement acceptance) → tick all 8 checklist items → watch the cascade promote the task to in_progress. Move to task 2. By task 4 (Audit strategy) the Planning phase auto-rolls to "in progress". This is what 4 weeks of fieldwork looks like compressed into a 5-minute click-through.
Watch outFor first-time audits of a new client, the prior-year comparatives may be unaudited (audited by another firm or compiled internally). Per ISA 510 you have specific procedures to follow on opening balances — tick the relevant checklist items honestly. Modify the opinion if you can't get sufficient evidence.
Tip — annual recurringYear 2 of the same client is much faster — the system auto-rolls forward last year's mapping (FS line mapping, accounting policies in Note 4, KAM library, prior-year disclosures). Typical compression: Year 1 = 8 weeks, Year 2 = 5 weeks, Year 3+ = 4 weeks (assuming no scope change).