This is prepared by the auditor in order to comply with professional standards and firm policy.
What is audit documentation
100
Purpose, source, conclusion, extent, nature, and timing.
What is PSCENT?
100
Account Balances
What is reconciled back to the accounting records when reviewing?
100
Significant Matters
Finding or issue that impacts procedures performed, evidence obtained or conclusions reached to support our audit opinion.
100
Audit Evidence
What is information used by the auditor in arriving at the conclusions on which the auditor's opinion is based. This includes both information contained in the accounting records underlying the financial statements and other information. This is cumulative in nature and includes evidence obtained from procedures performed during the course of the audit, as well as from other sources such as previous audits and acceptance & continuance procedures.
200
Documentation needs to be_____ enough to help facilitate the review process.
What is clear, organized, and concise?
200
Objective/purpose of procedure should be clear
What is the Purpose?
200
Critical Self Review
The process of reconciling accounting records and checking the nature, timing, and extent of documentation is called?
200
Coaching notes
Object in Aura used to record notes ususally arising from review of work. It is used for communication between engagement team members.
200
Tests of Detail
These are used to obtain audit evidence when we need evidence for a financial statement assertion beyond that provided by tests of controls and substantive analytical procedures.
300
EGAs
Tasks performed by an auditor designed either to gather evidence as a basis for assessing or responding to risk or other audit procedures that are necessary to comply with requirements.
300
External Audit Evidence is housed in this application.