Evaluating Evidence and Workpapers: Is It Enough?
Online
4.00 Credits
Member Price $140.00
Price will increase by $20 after 6/4
Non-Member Price $205.00
Price will increase by $20 after 6/4
Overview
Recent AICPA standards, SAS 142 and SAS 145, have expanded and clarified audit evidence and documentation standards. The role of the reviewer has expanded, and auditors need to know how to respond. Audit documentation provides the principal support for the independent auditor’s report. Therefore, it is important that workpapers meet professional standards. Anything less could result in peer or regulatory review deficiencies - or, as a worst-case scenario, lawsuits when fraud occurs at a company. Effective workpaper review is an important part of meeting professional standards at the engagement level as well as the overall firm level. In addition, the workpaper review process should be used as a tool for professional development and promoting efficient audits. During a financial statement audit, the auditor also obtains an understanding of the entity and its environment (including its internal control), performs a risk assessment, and from that work designs substantive procedures that will be responsive to the level of risk assessed. At the end of the audit, the auditor assesses the sufficiency and appropriateness of the audit evidence obtained to ensure that he or she has considered everything necessary to provide an opinion on the financial statements. This course addresses the characteristics of audit evidence and how the auditor evaluates the sufficiency and appropriateness of the evidence throughout the audit.
Objectives
Highlights
Designed For
Auditors responsible for reviewing workpapers for audit quality at the in-charge or newer manager level
Prerequisites
Experience on basic audit engagements
Preparation
None
Notice
By registering for this program and, accordingly, receiving the eMaterials, you’re acknowledging that you understand both the copyright restrictions on your eMaterials and the CTCPA cancellation policy.
Leader(s):
Leader Bios
Robert Bedwell
Bob is an accounting and finance professional with over 39 years of audit and accounting experience. Bob’s experience includes a full range of corporate accounting and assurance services, including financial statement preparation, auditing, SEC reporting, mergers and acquisitions, divestitures, due diligence, financing regulatory compliance, accounting system oversight, internal controls, IFRS conversions, Sarbanes-Oxley compliance advisory, and the independent review of external data. He is currently director of administrative services at Progressive Care Inc. in Hallandale Beach, Florida. Bob has been a discussion leader on numerous topics for Surgent Professional Education, the Florida Institute of Certified Public Accountants, and the American Institute of Certified Public Accountants, as well as for the firms for which he has worked, and has received high evaluations for his knowledge of topics and presentation skills. Subject areas for which Bob has served as a discussion leader (and, in some cases, author) include: professional ethics; fraud risk; and a variety of accounting and auditing overviews and standards updates. Bob received his Bachelor of Science in accounting and finance from Upsala College in East Orange, New Jersey, and has also earned a master’s degree in accounting from Florida Atlantic University. Licensed as a Certified Public Accountant in Florida, Bob is a member of the Florida Institute of Certified Public Accountants (FICPA) and the American Institute of Certified Public Accountants. He has previously served as chairman of the FICPA Accounting Principles and Auditing Standards Committee.
Non-Member Price $205.00
Member Price $140.00