We plan dynamically.
The firm adopts a risk-based approach to engagement planning. We use a standard excel template worksheet as a basis of our documentation with appropriate modifications as necessary.
For each engagement, we develop an audit plan, audit program, and budget to determine the required manpower and whether we will need additional staff during the coming year based on the availability and anticipated workload of existing engagements.
Personnel assignment involves planning the firm's overall needs and balancing engagement requirements, staff skills, individual development, and resource utilization. Our policies and procedures ensure appropriate staff assignments for each engagement.
The engagement partner is responsible for compliance with personnel assignment procedures. They must ensure that both individual team members and the engagement team collectively possess the necessary competencies to complete the engagement in accordance with professional standards and the firm's quality control system.
The following factors should be considered when assigning personnel to engagements (for firms with multiple employees):
When assigning personnel to engagements, we verify state licensing requirements. We also ensure adherence to any applicable stricter independence requirements.
The firm's personnel stay informed about ethical requirements specific to industries relevant to the firm's practice. We are staying informed about changes in professional standards and best practices by reading AICPA and Big-4 publications on relevant topics, participating in professional organizations (such as W3AA), and attending industry conferences (we may attend Bitwave, Cryptio, Bitcoin, and other relevant conferences).
When an engagement is in the new industry, the firm considers: