Webinar

Evaluating Evidence and Workpapers: Is It Enough?

---

Recent updates to AICPA standards, including SAS 142 and SAS 145, have clarified and expanded audit evidence and documentation requirements. As the role of the reviewer has expanded, auditors must know how to respond. High-quality audit documentation is essential, as it supports the independent auditor's report. Inadequate workpapers can lead to peer or regulatory deficiencies, or even legal consequences in cases of fraud. Effective workpaper reviews ensure compliance with professional standards, promote efficient audits, and serve as a tool for professional growth. This course explores how auditors evaluate the sufficiency and appropriateness of audit evidence, from risk assessment to final review, to ensure a well-supported opinion on financial statements.

Major subjects

• Documentation as a means of audit quality
• Responsibilities of the workpaper reviewer
• Important tips for providing review notes that will promote an effective and efficient financial statement audit
• Appropriate review considerations at various phases of the engagement, including before and after audit report date and report release
• SAS 142, Audit Evidence
• Relevance and reliability of audit evidence and sources of evidence
• Evaluation of tests of controls and the sufficiency and appropriateness of evidence obtained

Learning objectives

• Discuss the importance of documentation and how it fits in the overall audit quality process, including the various levels personnel in the firm play in workpaper review
• Discuss tips for an efficient workpaper review process that complies with professional standards, including the evaluation of the sufficiency and appropriateness of evidence obtained from tests of controls and substantive test of details
• Describe how the workpapers should be complete, accurate, and able to stand on their own and what areas reviewers should focus on in risk assessment, internal control, substantive testing, concluding and reporting

Who should take this program?

• Auditors responsible for reviewing workpapers for audit quality at the in-charge or newer manager level

Pricing

Our records indicate you are a nonmember. If you register, you will be charged $270.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.