The Audit Plan Risk Assessment is a fundamental planning document required for all audit engagements in South Africa, aligned with both international and local regulatory requirements. It serves as a crucial tool for audit firms to document their understanding of the client's business, assess risks of material misstatement, and plan appropriate audit responses. This document must comply with the International Standards on Auditing (ISA), particularly ISA 315, while incorporating specific requirements from the South African Independent Regulatory Board for Auditors (IRBA) and considering relevant legislation such as the Companies Act 71 of 2008 and the Auditing Profession Act 26 of 2005. The assessment is typically prepared during the planning phase of the audit and is continuously updated as new information becomes available throughout the engagement.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Executive Summary: Overview of the key risk assessment findings and major areas requiring attention
2. Engagement Context: Details of the audit engagement, client information, and scope of work
3. Entity Understanding: Comprehensive overview of the entity's business model, operations, and environment
4. Industry Analysis: Assessment of industry-specific risks, trends, and regulatory environment
5. Internal Control Assessment: Evaluation of the entity's internal control systems and their effectiveness
6. Risk Identification: Detailed analysis of identified risks at both financial statement and assertion levels
7. Risk Assessment Matrix: Quantification and prioritization of identified risks based on likelihood and impact
8. Planned Audit Response: Detailed audit procedures planned in response to assessed risks
9. Resource Allocation: Assignment of audit team members and time budgets based on risk areas
10. Timeline and Milestones: Key dates and deliverables for the audit engagement
1. IT Systems Assessment: Detailed evaluation of IT systems and related risks - required for entities with complex IT environments
2. Group Structure Analysis: Assessment of group-wide risks and control environment - needed for consolidated entities
3. Regulatory Compliance Framework: Specific section for heavily regulated industries like financial services or mining
4. Previous Audit Considerations: Analysis of prior year audit findings and their current relevance - for continuing engagements
5. Fraud Risk Assessment: Detailed fraud risk analysis - expanded section for high-risk entities
6. Going Concern Assessment: In-depth analysis of going concern risks - required for entities showing financial distress indicators
1. Schedule A: Risk Assessment Questionnaires: Completed risk assessment questionnaires and checklists
2. Schedule B: Control Testing Plan: Detailed plan for testing identified key controls
3. Schedule C: Financial Analysis: Key financial ratios and trend analysis supporting risk assessment
4. Schedule D: Team Structure: Detailed audit team structure and responsibilities
5. Appendix 1: Risk Assessment Tools: Specific tools and methodologies used in risk assessment
6. Appendix 2: Industry Benchmarks: Relevant industry benchmarks and comparative analysis
7. Appendix 3: Meeting Minutes: Minutes from key planning meetings and client discussions
8. Appendix 4: Prior Year Findings: Summary of relevant prior year audit findings and resolution status
Authors
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Mining and Resources
Manufacturing
Retail
Technology
Healthcare
Public Sector
Non-Profit Organizations
Professional Services
Real Estate
Transportation and Logistics
Energy and Utilities
Telecommunications
Agriculture
Education
Relevant Teams
Audit
Risk Management
Internal Audit
Compliance
Finance
IT
Legal
Quality Assurance
Technical Standards
Relevant Roles
Audit Partner
Audit Manager
Senior Auditor
Risk Assessment Specialist
Audit Committee Chair
Chief Financial Officer
Internal Audit Director
Compliance Officer
Financial Controller
Risk Manager
Technical Partner
Quality Assurance Partner
Engagement Partner
Industry Specialist
IT Audit Specialist
Find the exact document you need
Fire Risk Assessment For Self Catering Accommodation
A South African-compliant fire risk assessment document for self-catering accommodations, evaluating fire safety measures and providing risk mitigation recommendations.
find out more
Cctv Risk Assessment
A South African-compliant CCTV risk assessment document that evaluates security needs, privacy impacts, and technical requirements while ensuring POPIA compliance.
find out more
Building Survey Risk Assessment
A South African legal document assessing building-related risks, safety concerns, and compliance requirements, providing recommendations for risk mitigation.
find out more
Bcm Risk Assessment
A South African-compliant Business Continuity Management Risk Assessment document that evaluates potential business disruption risks and provides mitigation strategies.
find out more
Baseline Risk Assessment For (Construction)
A mandatory risk assessment document under South African law that identifies and controls construction project hazards, required before commencing any construction work.
find out more
Fire Risk Assessment For Restaurants
A South African-compliant fire risk assessment template for restaurants, evaluating fire hazards and safety measures in accordance with national regulations.
find out more
Restaurant Fire Risk Assessment
A South African-compliant fire risk assessment document for restaurants, evaluating fire safety aspects and providing recommendations under local regulations.
find out more
Covid Hazard Assessment
A South African workplace COVID-19 risk assessment document that evaluates and establishes control measures for managing COVID-19 transmission risks in compliance with local health and safety regulations.
find out more
Fraud Risk Assessment For Banks
A regulatory-compliant fraud risk assessment framework for South African banks, incorporating local banking laws and international best practices.
find out more
Night Worker Risk Assessment
A South African legal compliance document for assessing and managing risks associated with night work operations under OHSA and BCEA requirements.
find out more
Livery Yard Risk Assessment
A South African-compliant risk assessment template for livery yards, addressing facility, horse handling, and staff safety requirements under local health and safety regulations.
find out more
Field Level Risk Assessment
A South African regulatory-compliant document that systematically evaluates and controls operational risks in specific field environments.
find out more
Risk Assessment Policy
A South African-compliant policy document outlining the organization's approach to risk assessment, management procedures, and regulatory compliance requirements.
find out more
Cherry Picker Risk Assessment
A South African regulatory-compliant risk assessment document for safe cherry picker operations, aligned with OH&S Act requirements.
find out more
Liquidity Risk Assessment
A regulatory-compliant assessment of an organization's liquidity risk profile and management framework under South African financial law and Basel III requirements.
find out more
Information Security Risk Assessment Report
A detailed assessment of an organization's information security risks and controls, providing recommendations aligned with South African regulatory requirements and international standards.
find out more
Eyewash Risk Assessment Form
A South African workplace safety document for assessing risks and requirements related to eyewash facilities, compliant with OHS Act and SANS standards.
find out more
Continuous Risk Assessment
A South African law-compliant framework for implementing and maintaining an ongoing risk assessment process in organizational settings.
find out more
Construction Fire Risk Assessment
A mandatory South African construction document that evaluates fire risks, prevention measures, and emergency procedures for construction sites under national building and safety regulations.
find out more
Community Event Risk Assessment
A South African-compliant risk assessment framework for community events, ensuring comprehensive risk management and regulatory compliance.
find out more
Baseline Risk Assessment For Road (Construction)
A South African legal compliance document for identifying and managing risks in road construction projects, aligned with OHS Act requirements and Construction Regulations.
find out more
Risk Assessment Science Experiment
A comprehensive risk assessment template for scientific experiments, compliant with South African safety regulations and research protocols.
find out more
Risk Maturity Assessment Report
A comprehensive evaluation of an organization's risk management capabilities and maturity level, aligned with South African regulatory requirements and governance standards.
find out more
Risk Assessment Questionnaire For Banks
A comprehensive risk assessment tool for South African banks, aligned with local banking regulations and Basel III requirements.
find out more
Mobile Plant Risk Assessment
A South African OHS Act-compliant risk assessment document for evaluating and controlling hazards associated with mobile plant equipment operations.
find out more
Home Risk Assessment
A South African legal document detailing comprehensive residential property risk assessment and safety evaluation, aligned with national building and safety regulations.
find out more
Government Risk Assessment
A South African government-focused risk assessment document that evaluates and addresses organizational risks in compliance with national legislation and public sector requirements.
find out more
Compressed Air Risk Assessment
A South African OHS-compliant risk assessment document for evaluating and managing hazards associated with industrial compressed air systems.
find out more
Worksite Assessment
A South African law-compliant document for evaluating workplace safety, hazards, and compliance with OHS regulations.
find out more
Risk Assessment Log
A South African workplace document for systematically recording and managing occupational hazards and risks in compliance with OHS Act requirements.
find out more
Risk And Control Assessment
A South African regulatory-compliant document for systematic assessment of organizational risks and control effectiveness, aligned with King IV Code requirements.
find out more
Organisational Risk Assessment
A systematic evaluation of organizational risks compliant with South African legislation, providing comprehensive risk identification, analysis, and management strategies.
find out more
Forestry Risk Assessment
A South African forestry risk assessment document evaluating environmental, operational, and safety risks while ensuring compliance with local forestry regulations.
find out more
Smoking Risk Assessment
A South African law-compliant assessment document for evaluating and managing smoking-related risks in workplaces and public spaces.
find out more
Pressure Washing Risk Assessment
A South African OHS Act-compliant risk assessment document for pressure washing operations, detailing hazards, risks, and safety controls.
find out more
Personal Security Risk Assessment
A South African law-compliant security risk assessment document that evaluates personal security threats and provides protective measure recommendations.
find out more
Person Centred Risk Assessment
A South African law-compliant person-centered risk assessment document that evaluates and manages potential risks to an individual's health, safety, and wellbeing while respecting personal autonomy.
find out more
Participant Risk Assessment
A South African compliance document for assessing and managing individual participant risks in workplace activities, aligned with OHSA requirements.
find out more
Machine Guarding Assessment
A technical safety evaluation report assessing machine guarding compliance and recommendations under South African health and safety legislation.
find out more
New And Expectant Mothers Risk Assessment
A South African workplace risk assessment document designed to identify and mitigate risks to pregnant and nursing employees, ensuring compliance with local health and safety legislation.
find out more
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)