Effective and Efficient Audits: Journal Entry Testing

Overview:

 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 understand the CAS requirements and why journal entry testing is useful in engagements. 

Learn to identify and implement the requirements of understanding, selecting, and testing journal entries in an efficient and effective manner. This course walks through a practical three-step approach on how to understand, select and test journal entries in an effective and efficient manner. Specific guidance and examples for documenting and concluding are demonstrated.

Course Content:

In this course, you will gain knowledge about the following topics:

·         CAS 240, extant CAS 315, and CAS 330 requirements related to journal entry testing

·         Introduction and overview of JE testing and CAS requirements

·         Step 1: Understand and make inquiries related to the journal entry process

·         Step 2: Identify and determine the selection criteria

·         Step 3: Test the journal entries selected

·         Document the results and conclude including practical application and examples

·         Review of key points and action planning

Learning Objectives:

Upon completing this course, you should 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

·         Document and conclude on the results of journal entry testing

Who Will Benefit: 

For auditors who want to clearly understand the requirements related to journal entry testing and to strengthen their approach to testing and documenting effective and efficient manner.