Use your audit software correctly to ensure an effective and efficient audit of high quality.
One of the most cited root causes for audit deficiencies is insufficient knowledge of the audit software used. With technology improving at a rapid rate, it can either enhance the audit or prove to be a headache if employees are not competent to use the tools.
CaseWare can ensure that your audit file is complete and compliant with the standards, but if not used properly, there can be deficiencies in your file.
This course will explain the planning and finalization documents in CaseWare, how to complete them and how they interact to build your audit file.
During this course we will focus on the following areas:
• Pre-engagement planning
• Identifying the risk of the engagement
• Identifying ethical dilemmas
• Whether pre-conditions are met
• Should the engagement be accepted
• Calculating the overall and performance materiality for the engagement
• Performing risk assessment procedures and identifying and assessing risk
• At the Financial statements level
• At Assertion level for every FSA
• Completing the audit planning documentation and the effect on the rest of the audit file
• Finalising the audit with a specific look at
• Subsequent events
• Going concern issues
• Reporting to management
• Reporting to IRBA
• Audit report