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.