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Live Webinar

90-minute live streaming program
  • November 2
  • 1:00 - 2:30 pm EST

Audit Workpapers: How to Document and Review Field Work

November 2

Learn the audit risk in documentation and review of field work and how to use different tests in your research.

We have all heard “If it isn’t documented, it didn’t happen”. As auditors, we know documentation is important, but we also have deadlines and realization goals to meet. How much documentation is needed? Staff may become focused on saving a lot of files and doing a lot of work, but do they create audit documentation? Auditing standards have been codified to include SAS 122, SAS 123 and SAS 128 and more amendments have been approved in SAS 134 and SAS 137. Frequently, peer reviewers site the lack of linkage between audit risks and tests performed. According to the Journal of Accountancy article in July 2020, in audit failures, over 80% were caused by the auditor’s failure to gather sufficient audit evidence.

This topic will help tie all of these problems together. Proper audit documentation provides the documentation required under auditing standards and creates the linkage between audit risks and the tests performed. Proper audit documentation and the proper review of that documentation ensures that sufficient audit evidence has been obtained to support the auditor’s decisions and opinion. The material will also explain the importance of audit risk in the documentation and review of workpapers.

Learning Objectives

  • You will be able to define why documentation of workpapers is essential.
  • You will be able to describe different types of testing and documentation.
  • You will be able to discuss the changes that are coming with SAS 134 and 137 that will impact documentation.
  • You will be able to explain why your audit risk may change throughout the engagement with the documentation of the field work and result in changes to the testing and documentation.

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Why Audit?
Documenting Workpapers
  • What Is Required Under the Applicable SASs?
  • Elements of a Working Paper
  • Types of Testing During Field Work and How It Is Documented
Reviewing Audit Workpapers
  • Main Objectives in Reviewing the Workpapers
  • How Much Review Is Needed?
  • When Should the Review Work Be Conducted?
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More Program Information

Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Live Webinar Registration

  • AIPB 1.5
     
  • This program is acceptable for 1.5 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • CPE 1.8 including Auditing 1.8
     
  • Lorman Education Services 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 web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Auditing for 1.8 hours. Prerequisite: basic knowledge of general accounting. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     

Who should attend?

This live webinar is designed for accountants, CPAs, CEOs, presidents, vice presidents, CFOs, controllers, business owners and managers, bookkeepers, tax preparers, and enrolled agents.

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Karen McMurray, CPA, CFE, CICA, CGMA

Karen McMurray, CPA, CFE, CICA, CGMA

Blackburn, Childers & Steagall, PLC

  • Partner in the office of Blackburn, Childers & Steagall, PLC
  • Practice emphasizes all aspects of audit, particularly governmental and not-for-profit, also a certified fraud examiner
  • Our firm conducts an annual accounting, auditing and tax update in which she has been a regular speaker; she has also been a previous presenter for Lorman
  • Membership information: CPA, certified fraud examiner (CFE), certified internal controls auditor (CICA), and a CGMA
  • B.S. degree, East Tennessee State University
  • Can be contacted at 423-282-4511 or [email protected]
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 405171
Published 2020
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