It is obvious not to have time to check all the journals. Prioritizing accounts and transactions to be checked is important. A lot of textbooks say useful but abstractive things. My recommendation is to start with a simple assumption, being a President or a Financial Director in an audited company.

You, being a President, project better sales this year but not next year. There are options, such that, putting off your billing next term or seaking for more no caring about next year.

Under this circumstance, how do you, being a Financial Director, answer to the request of your boss. Looking for oppotunities of cost cutting, price hike to some customers, and so on are possible answers.

After this self-brainstorming, you are interested in who a President and a Finance Director is and the business is. Now you can refer the past papars to learn your precedessor’s experience.

This is called Audit Planning.