Workpapers are the primary support for findings, conclusions and opinions on any audit or other attest engagement. This audit standards CPE course will provide the essential tips and techniques for ensuring workpaper documentation is of a high quality, yet efficient, nature.
Learning Objectives
Upon completion of this course, participants will be able to:
Identify minimum documentation requirements contained in the SSARSs, SASs and SSAEs
Explain best practices for preparing and reviewing workpapers to ensure an effective and efficient engagement
List the quality control standards and guidance related to a CPA firm's responsibilities for its system of quality control over the audit practice
Apply techniques in case studies and examples for preparing and reviewing workpapers
Major Topics
The primary purpose of workpaper documentation, and minimum documentation requirements for workpaper preparers
Best practices for documenting complex and subjective procedures and conclusions, such as estimates, substantive analytic procedures, etc. that impact the nature and extent of audit documentation needed to support audit conclusions
Discussing the financial statement audit risk concept, including how proper application better ensures a higher quality audit
Tips for an efficient workpaper review process that complies with relevant standards
Understanding the quality management standards and guidance related to a CPA firm's responsibilities for its system of quality managementl
Explain the importance of establishing, applying, and monitoring quality control policies and procedures related to audit documentation
