Description
Part 1: How to properly prepare audit documentation & work-papers
This course will be an overview of:
- Audit documentation and procedures, including planning and supervision, internal control, and substantive testing.
- Generally accepted auditing standards (GAAS).
After completing this course, the learner should be able to:
- Understand GAAS, including the main provisions associated with risk assessment.
- Define reasonable assurance.
- Define and identify the purpose of audit documentation Recognize specific GAAS, PCAOB, SSARS, SCQS, and ET requirements related to audit documentation.
- Define audit evidence and identify the characteristics of sufficient appropriate audit evidence.
- Define and recognize the relevant management assertions Identify the types of procedures used in an audit.
- Name the types of audit documentation and common workpaper requirements
Part 2: How to properly prepare audit documentation & work-papers
This course will be an overview of:
- Audit documentation and procedures, including planning and supervision, internal control, and substantive testing.
- Generally accepted auditing standards (GAAS).
After completing this course, the learner should be able to:
- Identify the key components of auditing standards related to planning and supervision.
- Recognize the documentation requirements for planning and supervision, internal controls, and substantive tests.
- Identify the various types of audit documentation.
- Identify the pitfalls to avoid when preparing audit documentation.
Part 3: How to properly review audit documentation & work-papers
Gain working knowledge of the fundamental issues and processes necessary to review audit documentation and work-papers. Ensure review procedures comply with GAAS, and explore audit risk and management issues related to audit documentation.
Managers and partners will gain a working knowledge of the fundamental issues and processes necessary to review audit documentation and workpapers. Ensure that your review procedures comply with Generally Accepted Auditing Standards. In this first part, participants will explore audit risk and management issues around documentation.
At the conclusion of this session you will be able to:
- Define the audit risk model.
- Identify the impact of the components of audit risk on an audit.
- List the management assertions and identify the assertions that apply to transactions and events, account balances, and presentation and disclosure.
- Recognize the provisions of AU-C Sec. 200, 320, 450, 530, AU-C Sec. 315, and AU-C Sec. 330.
- Identify management considerations regarding documentation.
- Identify the various documentation requirements for risk assessment procedures.
Part 4: How to properly review audit documentation & work-papers
Learn the fundamental issues and the processes necessary to review audit documentation and workpapers. Ensure review procedures comply with GAAS, and explore audit documentation requirements and AU-C Sec. 530.
Managers and Partners will gain a working knowledge of the fundamental issues and processes necessary to review audit documentation and workpapers. Ensure that your review procedures comply with Generally Accepted Auditing Standards. In this second part, participants will continue to explore documentation as well as AU-C Sec. 530. At the conclusion of this session you will be able to:
- Identify the documentation required for specific accounts e.g., Cash, Inventories, Revenue.
- Define the objectives/purpose of reviewing audit documentation.
- Recognize checklists that help ensure a thorough review as well as providing a means to documenting a review.
- Identify common shortcomings of audit documentation.
- Name the key components of AU-C Sec. 530.
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