Click here for interim guidance and a pre-release of certain checklists.
For Reviews Commencing on or after January 1, 2014:
If you need materials for reviews commencing on or after January 1, 2014, you can download all of the files you'll need to perform reviews from the January 2014 Practice Management Toolkits.
You can download Checklists, Questionnaires and other Material to Perform System Reviews.
You can download Checklists and other Material to Perform Engagement Reviews.
You can review the January 2014 Release Notes.
The checklists were conformed to the clarified auditing standards, which are effective for audits of financial statements for periods ending on or after December 15, 2012, in update 00-6 (January 2013). You should use checklists designated with a capital letter “A” after the checklist number for engagements covering financial statements for periods ending before December 15, 2012.
Section 22,300, the “Financial Reporting and Disclosure Checklist,” is required for the general audit, and also the general review and compilation with full disclosure engagement checklists. It is not required for compilations that omit substantially all disclosures.
As with prior versions, if additional documentation is necessary for any checklist or practice aid item, you should attach separate pages, with the additional documentation, to the checklist or practice aid.
You should now complete the supplemental checklists for engagement reviews, or document the reason(s) you did not in the Review Captain’s Checklist. For reviews of compilations that omit substantially all disclosures, you may choose to complete the supplemental checklist, but it is not required.
The checklists and practice aids in PDF format allow the documents to be digitally signed. However, the documents can still be printed and signed manually, as well.
For assistance in reviewing an audit engagement and completing the audit engagement checklists, you may download the 10-step reference guide.