Event Registration Form for
Audit Program 4.0
Please fill out the information below to ensure a pleasant event experience. You may choose any of the listed dates to attend the event.
Please review the information you have provided to ensure successful registration. Please ensure you enter your CPA Practice Name and Contact Details for us to contact you with event venue addresses and details.
Please click “Register Now” when complete, and we will get in touch with you as soon as possible.
Thank you for your interest, and we look forward to seeing you at the event!
Free Drinks will be Served.
Download AP4.0 Deck
Four More Reasons to Use AP4.0
i. Resolves the Most Common Practice Review Findings
In the past months, EQC has been constantly improving our documentation in addressing common practice review findings, and we can confidently confirm that our Audit Program 4.0 can effectively address TEN of the most prevalent audit deficiencies that are commonly found in audit programs across the entire SMP industry.
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- Lack of evaluation of the internal controls on the allocation of the contract costs to different projects and service contracts / on key business processes.
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- Lack of risk assessment on the assertion level.
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- Lack of fraud risk considerations and inadequate procedures on management override of controls.
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- Lack of evidence of ongoing name screening for AML purpose.
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- Lack of considerations of assertion and financial statement level risks in determining sample sizes for extent of substantive tests of details.
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- Lack of arithmetical calculations and risk-based approach in determining extent of test of details.
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- Lack of audit documentation on the substantive tests of details performed.
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- Lack of documentation on the use of a proper audit opinion.
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- Absence of documentation on analytical reviews.
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- Post-Modification of working papers.
ii. Fastest Completion of Audit Work Papers in the Market
Working papers can be generated for multiple engagements in a matter of minutes. Imagine how many audit engagements you can complete with 1 staff in one week!
iii. Save 99.9999% of your Time Costs
Through our determination on digital transformation, we have been able to lower the cost to levels significantly below the equivalent time-cost of a typical audit junior.
The cost it takes to complete an audit file with an audit fee of HK$20,000 may involve a junior, a senior providing coaching, and a partner / manager reviewing the workpapers with back and forth revision. When using AP4.0, it only takes an administrative clerk 2 hours to complete the entire work papers and approximately 2 Audit Program credits. That is a cost of as low as under HK$800. Now calculate your operating profit margin.
iv. Technology Helps to Eliminate Human Errors
Human mistakes arising from carelessness is always inevitable. If you have previously purchased / encountered working paper templates available in the market, you would realize that it would almost be an impossible feat to digest the 1000-page long audit practice manual to ensure that the documented procedures have indeed been carried out in your working paper files.
Any inconsistencies between your firm’s audit practice manual and the archived working papers would be undisputable indicator of weakness in the firm’s engagement performance procedures.