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may specify roles and responsibilities including storage, retention, and
for team members and allocate tasks confidentiality considerations.
accordingly.
(j) Appendices: Appendices may
(f) Timeline and milestones: This include supplementary information
section establishes the schedule for such as reference materials, sample
completing the accounting work, documents, regulatory guidance, or
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including key milestones and deadlines. additional details that support the work
It may include checkpoints or review plan.
points to assess progress and make any
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necessary adjustments to the plan. In essence, an accounting work plan
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(g) Quality assurance and review is a detailed document that outlines the
procedures: This section ensures objectives, scope, methodology, resources,
that the work is performed with timeline, and procedures for performing
accuracy, consistency, and integrity. accounting tasks.
This may include peer reviews,
independent checks, and validation This plan offers a systematic approach,
procedures. The work plan should ensuring that tasks are executed efficiently
outline how quality will be assured and effectively, in compliance with relevant
throughout the work. standards and regulations. Serving as a
roadmap, this plan guides accountants
(h) Communication and reporting:
This section details how communication and financial professionals in managing
will be managed throughout the work, their responsibilities across a variety of
both internally among team members organisation such as consulting firms, the
and externally with other stakeholders. public/government sector, and private
It may specify reporting formats, entities.
frequency, and content, including Exercise 10.1
interim updates and final deliverables.
(a) Compare and contrast the
(i) Documentation and record- development of an accounting work
keeping: This section is crucial plan with work plans utilised in other
for maintaining a record of the business disciplines and specialised
work performed, decisions made,
and conclusions reached. This may areas within accounting. Highlight
include workpapers, memos, reports, the key factors that contribute to its
and correspondence. The work plan distinctiveness.
should specify requirements for (b) Review the following list of objectives
documentation and record-keeping, for Ramani & Co. and evaluate each

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