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DTSTAMP:20260429T051027Z
DTSTART:20260608T170000Z
DTEND:20260608T203000Z
LOCATION: Online
SUMMARY: Evaluating Evidence and Workpapers: Is It Enough?
DESCRIPTION: 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.
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