Audit Documentation - Workshop 2017

In this workshop, the importance of audit documentation is explained and its role in the whole audit engagement is analysed. The contents and format of audit documentation reveals the quality of audit conducted, evidence of work performed and justification of professional judgments made. Audit documentation also serves as crucial defence when independent auditors are being challenged for committing professional negligence. Audit documentation can be viewed as a detail record that links up the whole audit process, starting from preliminary engagement activities all the way to drawing audit conclusion and reporting.


Key topics covered:

  • Meaning of audit documentation in a wider aspect
  • Formats of audit documentation in general
  • Main purposes of maintaining proper documentation by independent auditors;
  • Methodologies of audit documentation
  • How it acts as a tool to provide guidance to auditors with lesser experience
  • Requirements to have proper documentation under the following circumstances;
    - satisfaction of quality control requirement and compliance with ethical requirements
    - assessed risks of material misstatement due to fraud and significant decisions made
    - oral communication with Those charged with Governance
    - issues of non-compliance with laws and regulations

Reference will be made to the following Auditing Standards:

  • HKSA 230 Audit Documentation
  • HKSA 220 Quality Control for an Audit of Financial Statements
  • HKSA 240 The Auditor's Responsibilities relating to Fraud in an Audit of Financial Statements
  • HKSA 250 Consideration of Laws and Regulations in an Audit of Financial Statements
  • HKSA 260 Communication with Those charged with Governance
  • HKSA 450 Evaluation of Misstatements identified during the Audit


Trainer profile:

Clarence Choi is a professional accountant and member of three renowned professional accountancy bodies. He has over 15 years experience in external and internal audit plus over 12 years teaching experience in auditing and accounting related subjects. Over the past years, he routinely conducted various lectures in HKU SPACE, including bachelor degree program. He has previously lectured the subject Advanced Audit and Assurance in revision program course of CPA Australia launched through HKU SPACE. Recently, he serves as speaker for CPA Australia's CPD event on several sessions of Audit Essentials. He is also a technical consultant of a long established local CPA firm.

Learning objectives

  • Understand the different formats of audit documentation and the major contents to be included
  • Maintain proper documentation for audit work performed with minimum supervision
  • Enhance organisation of audit worksheets

Audience

This workshop is suitable for public practitioners, independent auditors, internal auditors, and accountants who want a greater understanding on how independent auditors record their work.

2 hours

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