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.
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