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Tickmark Worksheet Illustration

WHAT IS A REVIEW NOTE AND HOW DO I DEAL WITH IT?

A review note is a tool used by reviewers to comment on your audit documentation. These will

be raised by your field senior, audit manager, and/or engagement partner throughout the auditand are comments you must address.

Review notes can cover all kind of points, from asking you to expand on an explanation youdocumented to asking you to increase your sample size and do additional testing. You can also

raise review notes as reminders for yourself or for other team members if you have not

completed your audit section before your last day on the engagement.

Review notes may be raised in different ways:

1) Using the Review Note Template working paper:Review Note Templatethis is a Word template within . Reviewers may use this

template for leaving queries on SAS documents and manual audit documentation as a

Per Details of Work Performed

Illustration, these are the

tickmark s referenced on theworking paper

This information is too

detailed to include on

the face of the working

paper, therefore we

document the details in

tickmarks shown here.

Any result,

misstatement, identified

etc. should be

documented in the mainworking paper. Further

detail can still be in the

tickmark.

Any unused tickmarks should be left blank and any information in old tickmarks should be deleted and the

tickmark left blank. For example, if there is existing information for the prior period, that is no longer

applicable or incorrect in the current period, you should either delete the old information and leave the

tickmark blank or update the information for current period.

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review note cannot be created directly in these documents. That does not mean the

reviewer will not use this template for Word and Excel files as well.

2) Word and Excel electronic review notes using Tools:Word and Excel review noteselectronic review notes created using Tools within Word

and Excel. Reviewers may use this method to attach their comment directly to the auditwork about which they have a comment.

3) Manual hand written review note document (occasionally used).Click on the link (by holding down the Ctrl key) to be taken toReview Note Illustration

TemplateorReview Note IllustrationExcel

See below for some general dos and do nots of review notes:

a When you receive your reviewed audit documentation, read all the review notes first.If you have any questions about any of them, make sure you talk to the reviewerbefore attempting to answer them.

b

Review notes need to be cleared in the audit documentation and not in the actualreview note. This is because at the end of the audit, all review notes are removed

from the file. Thus, if the audit work is included in the review note, it will be lost.

c For example, the field senior may leave a review note asking you to document theentity staff with whom you spoke, and when you spoke with them. During

completion of your testing, you would document this in the audit documentation. In

the review note, you would write that you had updated the audit documentation asasked.

d When you clear a review note, you should put your initials and a short comment onthe work you have done to address the comment in the review note. This allows the

reviewer to see quickly what additional work you have done without re-reviewing allof the audit documentation.

e You must clear all review notes on your work prior to the issuing of the audit report.These could be from your field senior, audit manager, or audit engagement partner.

f You should never delete a review note raised by someone else unless you have beenspecifically asked to do so. Reviewers will delete a review note once they aresatisfied that it has been addressed appropriately.

For more information on Review note template and Excel review notes, refer to Performance

SupportWorking with .