EVENT DESCRIPTION

This course focuses on review methodologies that help ensure an efficient and effective review of working papers for audit engagements. This seminar develops a process for performing and documenting a review of working paper files at different review levels. Participants will be able to understand the relationship between the review process and the requirements for file reviews under the Canadian Auditing Standards (CAS). All specific file review roles discussed in CSQC #1 will be covered.

LEARNING OUTCOMES:

Participants will be able to better understand:

  • The relationship between the review process and the requirements for file reviews under the Canadian Auditing Standards
  • The different approaches needed in the various review roles discussed in CSQC #1
  • How to follow an organized structure when reviewing working paper files
  • Specific file review problem areas
  • The most commonly occurring file deficiencies
  • Requirements of CAS 230 audit documentation
  • Other CAS sections that have documentation requirements

TOPICS INCLUDE:

  • Why we review working paper files
  • Detailed outline of file review requirements under the CAS
  • Optimal schedule for working paper review
  • Useful techniques to use when reviewing working papers
  • Discussion of review problems encountered in practice
  • File review notes – how to prepare and present them to file preparers
  • Provincial inspection reports as a tool for file review
  • Reviewing for file efficiency purposes
  • How to review some key audit forms
  • Case studies in file review
  • The use of checklists when reviewing

WHO WILL BENEFIT:

Experienced professionals interested in improving their review skills will benefit from attending this seminar.