Preparing and Reviewing Workpapers Essential Tips for Avoiding Deficient Audit and Other Attest Engagements

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Instructor

Jennifer
Louis

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Jennifer Louis

Bio

Jennifer F. Louis, CPA

Jennifer F. Louis, CPA has over 14 years of experience in designing and presenting high-quality training programs in a wide variety of technical and "soft skills" topics needed for professional and organizational success. In 2003, she co-founded Emergent Solutions Group, LLC, a consortium of professionals serving organizations on a project or part-time basis, to create a division dedicated to training services. She was most recently Executive Vice President/Director of Training Services at AuditWatch, Inc., a highly respected training and consulting firm serving the audit profession. During her six years at AuditWatch, Ms. Louis served in many other capacities, including Vice President of Product, and instructor and consultant for the firm's Audit Productivity Improvement ProgramTM and various other training courses. She also co-authored a manual on value-added auditing.

Before joining AuditWatch, Ms. Louis was the financial/operational audit manager at AARP. While at AARP, she served as one of their specially trained facilitators available as a resource throughout the organization for designing and leading strategic meetings and training sessions. Ms. Louis was also an audit manager for Deloitte and Touche, LLP. During her years in that firm's Washington, D.C. office, she served as an instructor for the firm's national "Train the Trainers" program.

Ms. Louis graduated summa cum laude from Marymount University with a BBA in accounting. She is also a member of several prestigious professional associations.

Workpapers are the primary support for findings, conclusions and opinions on any audit or other attest engagement. This course will provide the essential tips and techniques for ensuring workpaper documentation is of a high quality, yet efficient, nature.

Learning Objectives

• Identify minimum documentation requirements contained in the SSARSs, SASs and SSAEs

• Explain best practices for preparing and reviewing workpapers to ensure an effective and efficient engagement

• List the quality control standards and guidance related to a CPA firm’s responsibilities for its system of quality control over the audit practice

• Apply techniques in case studies and examples for preparing and reviewing workpapers

Major Topics

• The primary purpose of workpaper documentation, and minimum documentation requirements for workpaper preparers

• Best practices for documenting complex and subjective procedures and conclusions, such as estimates, substantive analytic procedures, etc. that impact the nature and extent of audit documentation needed to support audit conclusions

• Discussing the financial statement audit risk concept, including how proper application better ensures a higher quality audit

• Tips for an efficient workpaper review process that complies with relevant standards

• Understanding the quality control standards and guidance related to a CPA firm’s responsibilities for its system of quality control

• Explain the importance of establishing, applying, and monitoring quality control policies and procedures related to audit documentation

CPE Credits Available

8 CPE

8: Auditing

Things to Know About This Course

Course Level

Intermediate

Professional Area of Focus

Auditing

Prerequisites

Advanced Preparation

None

Intended Audience

Anyone who prepares or reviews workpapers

Provider

GSCPA