Audit Working Paper Guidance: To adapt to the newly released professional standards

Author: Beijing Institute of Certified Public Accountants
Publisher:
Publishing Time: Not available
Features: To better reflect the audit philosophy and approach of the new standards, and to assist practitioners in achieving a smooth transition from the old to the new standards, Secretary-General Lü Guoxiang and Deputy Secretary-General Sun Yanhong of the Beijing Institute of Certified Public Accountants actively advocated and meticulously organized the effort. Industry experts spent three months writing the "Guidance on Audit Working Papers," providing a reference for audit practices under the new standards. This book primarily targets the risk audit standards that many practitioners find abstract and confusing in practical operations. Specifically, it focuses on five aspects in the detailed audit plan during the audit planning stage: risk assessment procedures, understanding the auditee and its environment (excluding internal controls), understanding internal controls, discussions on risk assessment and audit planning, and the assessment of significant misstatement risk. The authors strive to implement the guiding principles of risk audit in every working paper, embedding abstract principles into every operational step and instruction, thereby making the process simpler and more targeted. For working papers on further audit procedures with relatively mature models in practical operations, this book will not elaborate further.