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Applying Agile to your Annual Planning process

With the impact of COVID, and more generally, a change in the way we work, a traditional approach to annual planning may not be possible. Audit teams which are stretched as a result of the havoc created by the pandemic and the need for businesses to react swiftly, may be short on time for their annual planning.

Annual planning is a critical activity which must be performed each year. Not only does it set the agenda of audit activity for the year to come, but it also ensures we develop a risk based plan; a key requirement of the auditing standards. Therefore, it’s important that we do Annual Planning correctly.

We have already provided an overview / guide to Annual Planning which you can read here. In this blog post however, we’re going to discuss two concepts; Agile Annual Planning, and an Agile Plan.