If you are using Draftworx to perform your audit engagements, then this series is for you! From first time users to those who just need a refresher, these 6 sessions will take you through the audit process within Draftworx RAC and explain how to complete working papers and how the methodology works. We will also tie each working paper to their Auditing Standard to ensure the users understand the requirements.
Session one will focus on the pre-engagement procedures regarding client acceptance, materiality and scoping.
• The audit process
• Draftworx Methodology
• Starting a new engagement
• Accepting your client
• Ethical considerations
• Materiality
• Scoping
• The following documents will be addressed:
o 10.00 Engagement acceptance and continuance
o 10.02 Audit Firms Independence
o 10.03 Individual team member independence declaration
o 10.04 Accounting Framework
o 10.05 Competencies and Independence evaluation of Engagement team
o 10.10 Planning Materiality
o 10.15 Audit type selection
o 10.20 Identification of audit sections
o 10.25 Engagement setup signoff
o 10.30 Audit Engagement letter
Auditors, First year SAICA Trainees, Second year SAICA trainees, Third year SAICA trainees, Fourth year SAICA trainees, Fifth year SAICA trainees, Audit managers, and Audit partners
