Audit working papers provide the necessary evidence that the audit was planned and performed per US generally accepted auditing standards (GAAS) and meeting legal and regulatory requirements. This course will describe the various audit documentation requirements in US GAAS and the different other purposes, such as assisting the engagement team in planning and performing the audit, directing and supervising, directing work and reviewing the audit work. Audit work papers should document the procedures performed, the audit evidence examined, and the conclusions and judgments reached by the audit team.
Learning Objectives
• Understand the documentation requirements in professional standards
• Identify common workpaper deficiencies
• Discuss how to properly prepare audit workpapers
Major Topics
• Proper audit documentation techniques
• Audit quality standards as they pertain to audit documentation
• Nature and extent of audit documentation
• Examples of audit workpapers
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