Effective Workpaper Techniques: Building a Better Workpaper

Overview

Surveys and field studies find that diverse teams are high-performing teams. Diverse teams value different perspectives and encourage the participation of team members through psychological safety, leading to higher team performance. Team diversity is an office-level characteristic, that is distinguishable from other characteristics studied in prior auditing literature, that has an incremental effect on audit quality. The positive association between team diversity and audit quality is robust to controlling other audit office and client characteristics. This positive association is even stronger for more complex and non-routine audit engagements.

Highlights

• Identifying when a workpaper is needed--what is the objective —
• Constructing an effective workpaper
• Leveraging the power of Excel to create a more powerful and fluid workpaper
• Differences between workpapers for industry, audit and tax accountants
• Referencing
• Creating a trail that anyone can follow
• How to document to reduce legal risk
• Best practices of documentation to improve peer reviews

Prerequisites

None.

Objectives

• Understand workpaper objectives and be able to answer the questions: What am I doing and Why am I doing it?
• Develop the skills needed to determine appropriate workpaper content.
• Recognize concepts that result in effective workpapers. Understand the concept of workpaper construction and what workpaper users
• Determine the legal implications of workpapers.

Preparation

None.

Notice

This is a self-study/on demand course offered by a 3rd party vendor and will NOT be accessible in the My Upcoming CPE section of the ISCPA website. Course access information will be emailed directly to you by CalCPA. The course expires one year from the purchase date. Format = Online Self-Study.