CPE: 8 hours
Advanced prep: None
Who should attend: Staff auditors who create workpapers and supervisors/seniors who supervise audit engagements
Yellow Book: No
Workpapers are the building blocks of an audit. If it's not in the workpapers, the manager and partner might not know about it or consider its ramifications. A badly prepared workpaper is a time-waster for managers and partners, so training in proper workpaper preparation is critical. Make this course part of the firm's quality control system. Learn the fundamentals of workpaper preparation - form and content - to make sure everything is properly documented. You will also explore examples which show field work supervisors what factors to consider and what steps to follow when reviewing workpapers. In addition, typical workpaper deficiencies are explained to help minimize potential liability.
When you complete this course you will be able to:
Definition of and basic requirements of a workpaper
Preparing and maintaining workpapers
Different types of workpapers
Documenting audit tests
Improving workpaper technique
Conducting the review
Common shortcomings of working papers
Case study example
Apply basic standards regarding workpaper documentation and proper workpaper technique.
Identify the tasks in supervisory-level reviews of workpaper documentation for audit engagements necessary to ensure compliance with current