Fieldwork
Should be reviewed in detail prior to starting work in an audit section.
What is the audit program?
We are losing access to this at the end of 2025.
What is SMART?
Finalization period after issuance.
What is 45 days?
Responsible for completing the confirmation log.
What is the engagement team?
Work paper that gets signed off on in conjunction with the draft.
What is the disclosure checklist?
Monitored at least on weekly basis.
What is the budget?
This can also be done during planning period.
What is interim testing procedures?
The process of discussing review notes written with the preparer once a round of review is completed and prior to notes being addressed.
What is collaborative review?
All confirmations sent through email must be sent using this
What is Sharefile/Adobe Sign / encrypted
Things needed on the PDF draft prior to sending to client.
What is watermark and security?
Performed prior to signing off as preparer on a workpaper.
What is self-review?
Planning meetings should be held no later than this.
What is 30 days prior to start of fieldwork?
Responsible for ensuring expectations are set and communicated to the staff at the start of fieldwork.
What is the in charge?
Requires and update within 10 business days of issuance.
What is a legal letter response identifying pending litigation?
Best practice - when manager level review should be substantially performed.
What is during fieldwork?
Things to be pulled up and discussed during your planning meeting (top 3).
What is 1) materiality 2) prelim analytics, 3) risk assessment?
The first step when reviewing a workpaper.
What is CHECK OUT THE WORKPAPER??
These letters should be handled by the engagement team rather than Operations.
What is legal letters
When proofing is performed.
What is between cold review and sending to the client?
Areas that should be prioritized.
What are high risk audit areas?
This gets filled out in order for ELs to be drafted.
What is the EL Log?
The place where you can easily find the Gold Standards document.
What is the audit sample binder?
Mechanism used to request sending / mailing of confirmations.
What is Master Email Template?
When the FS draft should be completed.
What is the end of allotted time on the schedule?