Complying with Audit Documentation Requirements

Description

Proper documentation is essential to a high-quality audit, as auditors are required to prepare and maintain documentation to demonstrate that sufficient and appropriate audit evidence was obtained to support the auditor's opinion. It is critical for workpapers to provide a clear understanding of the nature, timing, and extent of procedures applied, the results of those procedures, source of evidence obtained, and conclusion reached. Both audit effectiveness and efficiency are directly impacted by the nature and extent of audit documentation. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Highlights

The major topics covered in this class include:

• Proper documentation as a means of audit quality
• Factors impacting the nature and extent of documentation
• Sample workpaper index and other organization tips
• Use of audit programs as a means of audit documentation
• Checklist for self-review of workpapers and clearing review notes
• Multiple exercises on identifying workpaper deficiencies

Objectives

After attending this presentation you will be able to...

• Discuss the minimum documentation requirements of the audit standards
• Discuss tips and techniques for self-review
• Describe common workpaper deficiencies
• Explain how to prepare workpapers in a proper form

Designed For

Professionals who prepare or review audit documentation