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 conclusions reached. Both audit effectiveness and efficiency are directly impacted by the nature and extent of audit documentation.
Major Topics:
- 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 means of audit documentation
- Checklist for self-review of workpapers and clearing review notes
- Multiple exercises on identifying workpaper deficiencies
Prerequisites
No Advanced Preparation or Prerequisites are needed for this course.Designed For: Professionals who prepare audit or review audit workpapers.
Learning Objective
- Discover and discuss the minimum documentation requirements of the audit standards.
- Identify and discuss tips and techniques for self-review.
- Recognize and describe common workpaper deficiencies.
- Explore and explain how to prepare workpapers in proper form.
Last updated/reviewed: March 15, 2024
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Jennifer Louis
CPA, President of Emergent Solutions Group LLC
INTRODUCTION AND OVERVIEW
- Learning Objectives for Audit Documentation 0:42
- Introduction to Audit Documentation - Creating Workpapers That Pass Review 18:32
- More About Audit Documentation 9:13
- Filing and Indexing 6:19
- Audit Programs as Documentation 5:05
- Formatting of Workpapers 16:10
- Workpaper Examples 13:00
- Exercises in Identifying Workpaper Deficiencies 12:03
- Checklist for Self-Review 6:30
- Clearing Review Notes 4:17
- Strategies for Efficient and Effective Documentation 7:58
CONTINUOUS PLAY
SUPPORTING MATERIALS
- Slides: Audit Documentation - Creating Workpapers That Pass Review PDF
- Audit Documentation - Creating Workpapers That Pass Review Glossary/Index PDF
REVIEW & TEST
- REVIEW QUESTIONS quiz
- FINAL EXAM exam
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