5 Tips and Tricks for
Reviewers
Presented by:
David Bergstein,
CPA, CITP, CGMA &
Brian Siet, CPA
Hosted by:
AccountingWEB
July 11, 2013
Objectives
 Understand at least 5 key tips and tricks for making the audit
review process more productive and effective
 Gain insight on how to leverage software to make the review
process more productive
5 Tips and Tricks for Reviewers
Discussion Points
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Invest in the planning and risk assessment process
Leverage interim fieldwork
Emphasize the importance of thorough documentation
Plan to leave the field finished
Let the software work for you!
5 Tips and Tricks for Reviewers
Invest in the Planning and Risk Assessment Process
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A failure to plan is a plan to fail!
Proper planning minimizes fear, uncertainty, and doubt
Do not build a budget around a fee
Discuss the risks and relevant assertions with all team members
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Financial Statement Level
Specific
Relevant Assertions
 Confirm that the audit team members can articulate what they’re
doing to address each risk and assertion before fieldwork
 Ensure the team understands linkage of procedure to risk
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SALY = MILLY
5 Tips and Tricks for Reviewers
Leverage Interim Fieldwork
 Interim fieldwork is an opportunity to reach out to clients and:
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Minimize surprises
Help ensure client is “ready”
Improve client relationships
 Consider the following for interim:
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Roll forward
Complete planning documents/hold planning meeting
Document the firm’s understanding of controls
Preliminary analytical review
Update debt and lease agreements
Test fixed assets
Analyze legal fees
Test controls through interim (if applicable)
5 Tips and Tricks for Reviewers
Emphasize the Importance of Thorough Documentation
 “We can’t staple you to a workpaper!”
 Current documentation standard is considered a high standard of
documentation
 Thorough documentation means:
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Documentation is defensible
Improved efficiency in subsequent years
Enhanced understanding of the client
 Workpapers don’t have to be pretty, but conclusions do!
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Look out for convoluted tickmarking and referencing
Does the workpaper support the conclusion?
5 Tips and Tricks for Reviewers
Plan to Leave the Field Finished
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“We can do that when we get back in the office…”
Review planning prior to fieldwork (Real time review)
Set specific milestones with dates
Schedule time to review in the field, or during fieldwork
Goal – provide client with draft financials as you’re walking out
the door
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Improved client service
5 Tips and Tricks for Reviewers
7
Let the Software Work for You!
 Avoid using software to support outdated paper processes
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Gaps in sequence
Separate “Permanent File”
Formatting for “printing”
Ask for files electronically (prior to fieldwork)
Use Engagement’s “Shortcut” bar
Notes summary
Sign off summary
Synchronize/Binder Packages for review
Avoid sign off prior to completion of workpapers
Lock workpapers after sign off
5 Tips and Tricks for Reviewers
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What Questions Do You Have for Our Presenter?
5 Tips and Tricks for Reviewers
9
Thank You for Attending

For additional questions or to place an order, contact your Account Manager
at 800-739-9998.
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For more information, visit www.CCHGroup.com/AA.

Presenter David Bergstein, CPA
• Phone: 877.202.0729
• Email: david.bergstein@wolterskluwer.com

Presenter Brian Siet, CPA
• Phone: 877-400-0092
• Email: brian.siet@wolterskluwer.com
We look forward to continuing the discussion on how
CCH can help meet your needs.
5 Tips and Tricks for Reviewers
5 Tips and Tricks for Reviewers