Journal entry testing is a required procedure but most times auditors don’t know what is required, why they are testing journal entries or how to test them. This course will help auditors appreciate the CAS requirements and why journal entry testing is useful in engagements. The session will walk through a practical three-step approach on how to understand, select and test journal entries in an effective and efficient manner. Specific guidance on documenting and concluding is demonstrated.
By the end of the session, participants will be able to:
- Understand the CAS requirements of journal entry testing
- Appreciate why journal entry testing is required
- Develop an efficient approach to journal entry testing
- Conclude on the results of journal entry testing
- Document procedures and results