The engagement partner and other key members of the engagement team shall be involved in planning the audit, including planning and participating in the discussion among engagement team members.  (Ref: Para. A5)

The auditor shall undertake the following activities at the beginning of the current audit engagement: 

1. Performing procedures required by ASA 220 regarding the acceptance and continuance of the client relationship and audit engagement; ^[1]
2. Evaluating compliance with relevant ethical requirements, including those related to independence, in accordance with ASA 220; ^[2] and
3. Establishing an understanding of the terms of the engagement, as required by ASA 210. ^[3]  (Ref: Para. A6‑A8)

The auditor shall establish an overall audit strategy that sets the scope, timing and direction of the audit, and that guides the development of the audit plan.

In establishing the overall audit strategy, the auditor shall consider the information obtained from complying with the requirements of ASA 220 and: 

1. Identify the characteristics of the engagement that define its scope; 
2. Ascertain the reporting objectives of the engagement to plan the timing of the audit and the nature of the communications required; 
3. Consider the factors that, in the auditor’s professional judgement, are significant in directing the engagement team’s efforts; 
4. Consider the results of preliminary engagement activities and, where applicable, whether knowledge gained on other engagements performed by the engagement partner for the entity is relevant; and 
5. Ascertain the nature, timing and extent of resources necessary to perform the engagement^[4].  (Ref: Para. A9‑A13)

The auditor shall develop an audit plan that shall include a description of: 

1. The nature, timing and extent of the planned direction and supervision of engagement team members and the review of their work. (Ref: Para. A18–A19)
2. The nature, timing and extent of planned risk assessment procedures, as determined under ASA 315.^[5] 
3. The nature, timing and extent of planned further audit procedures at the assertion level, as determined under ASA 330.^[6] 
4. Other planned audit procedures that are required to be carried out so that the engagement complies with the Australian Auditing Standards.  (Ref: Para. A14‑A16)

The auditor shall update and change the overall audit strategy and the audit plan as necessary during the course of the audit.  (Ref: Para. A17)

The engagement partner shall review the overall audit strategy and audit plan.

The auditor shall include in the audit documentation:^[7]

1. The overall audit strategy;
2. The audit plan; and
3. Any significant changes made during the audit engagement to the overall audit strategy or the audit plan, including significant changes to the nature, timing and extent of the planned direction and supervision of engagement team members and the review of their work,^[8] and the reasons for such changes. (Ref: Para. A19 -A23)

The auditor shall undertake the following activities prior to starting an initial audit: 

1. Performing procedures required by ASA 220 regarding the acceptance of client relationships and audit engagements;^[9] and 
2. Communicating with the predecessor auditor, where there has been a change of auditors, in compliance with relevant ethical requirements.  (Ref: Para. A24)