Effective Workpaper Techniques: Building a Better Workpaper

Overview

The challenge: Create workpapers that reflect a high level of clarity, competence and compliance with standards–and company policy–while at the same time showcasing individuality and excellence. This course is a good refresher for seasoned professionals to ensure documentation in compliance with best practices and maintain skills, as well as providing the basics to help new and emerging CPAs prepare, document and maximize the potential of each workpaper. You’ll leave this course armed with the skills to create workpapers that answer more questions than they raise. While this is primarily audit and industry accountant focused, all accountants can benefit from an immersion in topics that range from the core necessity of workpapers to more complex legalities and regulatory requirements.

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.