Abstract: Disclosed is a computer implemented system for generating assurance related planning process and documents for an entity, the system comprises a computer arrangement having a computing device communicably coupled to plurality of input-and/or output devices to acquire inputs and source data of the entity from a user and a server arrangement communicably coupled to the computer arrangement, wherein the server arrangement comprises at least one processing unit, and at least one memory unit configured to store plurality of processing instruction. Another aspect of the present disclosure discloses a method for generating an audit report assurance related planning process and documents for an entity.