131 Understanding The Engagement

The 131 Understanding the Engagement document is used to capture the internal audit team’s understanding of the engagement before detailed planning and fieldwork begin. It defines key stakeholders, confirms the entrance meeting agenda, identifies relevant background information, and records applicable laws and regulations. This ensures that the engagement is properly contextualised and that subsequent planning and communication activities are aligned.

The objective of this document is to establish a clear and shared understanding of the engagement’s context, stakeholders, and information requirements, while driving the content of subsequent documents and queries within the engagement workflow.

Planning | 131 Understanding the engagement can be found within 130 Understanding and risk assessment on the Planning page.

The document consists of structured procedures that guide the auditor through defining stakeholders, selecting entrance meeting topics, identifying required background information, and documenting relevant regulatory requirements. Selections made in this document dynamically drive content in subsequent documents and queries.

Stakeholders

Capture all relevant stakeholders involved in or responsible for the activity under review by completing the Role and Name fields.

Note: To add additional rows for additional stakeholders, select the + Row below the table.

Entrance meeting agenda

Select which standard agenda items should be included in the 135 Entrance meeting.

Only items marked “Yes” will be carried forward and appear as discussion points in the entrance meeting document.

Note: Making a selection will automatically sign off each selection.

Background information

Identify which categories of background documentation are relevant to the engagement.

Selections made here drive the questions and file upload requests in 141 Request for background information. Only categories marked “Yes” will generate requests to the auditee.

Laws and regulations

List any applicable laws, rules, regulations, or policies that may impact the engagement. Each item is captured as a separate row in the table.

Note: To add additional rows for additional stakeholders, select the + Row below the table.

1. Open 131 Understanding the Engagement from the engagement file
2. Capture all relevant stakeholders (Role and Name)
3. Select entrance meeting agenda items and add notes where required
4. Identify relevant background documentation categories (Yes/No)
5. Add applicable laws, regulations, or policies
6. Complete procedure-level sign-offs where required
7. Perform document-level sign-off
8. Review for completeness and accuracy

• Use sign-offs to clearly indicate completion and review
• Keep the entrance meeting focused by selecting only relevant topics
• Ensure all relevant background information is selected to support a comprehensive information request
• Document key laws and regulations early to support compliance linkage later in the engagement

Page outcomes

Completion of this document ensures that stakeholders, entrance meeting topics, and background information requirements are clearly defined. It enables the automatic population of 135 Entrance meeting and drives the information requests in 141 Request for background information, allowing the engagement team to proceed confidently into the planning and information-gathering phases.