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Reviewing Workpapers: Embracing Responsibilities for Quality Control

  • Accountant
  • CRMA
  • CPA/CFF
  • CFE
  • CGAP
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • IAP
  • QIAL
  • CBA/MCBA
  • CFIRS
  • CWS

Published: May, 2022

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Documentation as a means of audit quality
    3 mins
  • Important aspects of review
    15 mins
  • Typical manager or partner review
    25 mins
  • Additional beneficial outcomes for review
    46 mins
  • Is this a good review note?
    76 mins
  • Tips for sole practitioners
    88 mins

Course Description

‘If it isn’t documented, it didn’t happen.’ 

Auditors understand the importance of documentation. Audit documentation provides the principal support for the independent auditor’s report. Therefore, work papers must meet professional standards. Anything less could result in peer or regulatory review deficiencies as a worse case, lawsuits when fraud occurs at a company. 

The auditor is not responsible for identifying fraud. But the auditor is responsible for planning and performing the audit to obtain reasonable assurance that the financial statements are free from material misstatement due to fraud or error. 

Audit documentation provides the principal support for an auditor’s report. Therefore, workpaper reviewers must perform quality control procedures to ensure that technical, professional, and regulatory standards are met. In addition, the workpaper review process should be used as a tool for professional development and promoting efficient audits. 

This CPE Auditing webinar will provide the tips and tools for satisfying these important workpaper reviewer responsibilities.

Major Topics Covered in this online CPE webinar:

  • Documentation as a means of audit quality.
  • Responsibilities of the workpaper reviewer.
  • Quality Control Benefits of Review.
  • Reviewing Analytic Workpapers.
  • Reviewing Areas of Subjectivity.
  • Appropriate review notes at various phases of the engagement, including before and after audit report date and report release.
  • Important tips for providing review notes that will promote an effective and efficient financial statement audit.
  • Sole Practitioner Considerations.
  • AICPA Frequently Asked Questions.


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Learning Objectives

  • To discuss documentation as a means of audit quality.
  • To explain the critical responsibilities of a first-level reviewer.
  • To describe common review notes at various phases of the audit.
  • To discover and discuss the minimum documentation requirements of the audit standards.
  • To identify and discuss tips and techniques for self-review.
  • To recognize and describe common workpaper deficiencies.
  • To explore and explain how to prepare work papers in proper form.

Recommended For

  • This Online CE/CPE Webinar is recommended for CPA, CIA, IAP, QIAL, CMA, CFF, CFE, CVA, CGFM, CBA/ MCBA, CRMA, CPA-CA, CGAP, CFIRS, Internal Auditors, External Auditors, Accountants, and Other Professionals interested in learning tips and tools for satisfying important workpaper reviewer responsibilities.

Who Should Attend?

  • Accounting Firm
  • Accounting Managers
  • Auditors
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Forensic Auditor
  • Staff of Accounting Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 3 General Credit for Accountant/Bookkeeper/Tax Professionals
  • 3 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
  • 3 CPE Credit for Certification in Risk Management Assurance (CRMA)
  • 3 CPD Credit of Auditing for Certified Financial Forensics (CFF)
  • 3 CPE Credit of Auditing for Certified Fraud Examiner (CFE)
  • 3 CPE Credit for Certified Government Auditing Professional (CGAP)
  • 3 CPE Credit for Certified Government Financial Manager (CGFM)
  • 3 CPE Credit of Internal Auditing for Certified Internal Auditors (CIA)
  • 3 CPE Credit of Auditing for Certified Management Accountants (CMA)
  • 3 CPE Credit of Auditing for Certified Valuation Analyst (CVA)
  • 3 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 3 CPE Credit of Auditing for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 3 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 3 CE Credit for Certified Wealth Strategist (CWS)
  • 3 CPE Credit for Internal Audit Practitioner (IAP)

Additional details

  • Course Level :
    Basic
  • Credits :
    3
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

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MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Jennifer Louis, CPA (US)

President, Emergent Solutions Group LLC

Jennifer F. Louis, CPA has over 25 years of experience in designing and instructing high-quality training programs in a wide variety of technical and “soft skills” topics needed for professional and organization success. In 2003, she founded Emergent Solutions Group, LLC, where she focuses her energy on designing and delivering high-quality, practical, and engaging accounting and auditing training. She was most recently Director of Audit Product Development at Surgent Professional Education, and prior to that served as Executive Vice President/Director of Training Services at AuditWatch, Inc., a highly-respected training and audit process consulting firm. Before joining AuditWatch, Jennifer was the Financial/Operational Audit Manager at AARP. At the start of her professional career, Jennifer was an Audit Manager for Deloitte & Touche LLP, where she frequently served as a local and national instructor. Jennifer graduated summa cum laude from Marymount University with a BBA-Accounting. Besides loving life on the lake with her husband in Charlotte, NC, she enjoys hiking with her little dog Frodo Beggins, and savoring any precious moments spent with her two young adult boys.

About Company

Emergent Solutions Group LLC

www.emergentgroup.net

Emergent Solutions Group is highly rated in course design and instruction on a wide array of topics, including accounting, auditing, personal development, project management, practice management, and more. Our Services includes : 

1. Developing High-Caliber, Cost-Effective Training Content

2. Revamping or Customizing Existing Training Offerings

3. "On-Call” Instructing and Speaking

4. Training the Trainer

Faq

FAQs content

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