> For the complete documentation index, see [llms.txt](https://finspectors.gitbook.io/finspectors-documentation/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://finspectors.gitbook.io/finspectors-documentation/audit-modules-auditor-view/execution/workpapers.md).

# Workpapers

## **Overview**

The Workpapers module acts as the operational workspace for the audit engagement.

It organizes audit procedures and supporting documentation into three stages:

1. Plan
2. Execute
3. Complete

Each stage contains structured workpapers, progress tracking, assignments and review workflows to help audit teams manage execution efficiently.

***

## **Workpaper Tabs**

***

## **1. Plan**

The Plan tab contains planning-stage workpapers and engagement-level documentation.

These workpapers are generally not tied to a specific FSLI and support the overall audit planning process.

#### **Examples**

* Audit Strategy & Planning Memorandum
* Fraud Risk Assessment
* Materiality Determination
* Assertion-Level Risk Assessment
* Audit Response to Assessed Risks
* Sampling Methodology & Coverage
* Final Planning & Risk Conclusion

***

#### **What auditors can do**

* Review planning workpapers
* Assign team members
* Track completion status
* Monitor progress
* Maintain planning documentation in one place

***

## **2. Execute**

The Execute tab contains FSLI-level audit execution workpapers.

Each scoped FSLI is organized into structured procedure categories.

***

### **Execute Structure**

For every scoped FSLI, workpapers are divided into:

#### **1. Understanding**

Contains procedures related to understanding the account and process.

Examples:

* Risk understanding
* Process walkthroughs
* Supporting inquiries
* Account analysis

***

#### **2. Execution**

Contains the actual testing procedures performed by auditors.

Examples:

* Substantive testing
* Controls testing
* Analytical procedures
* Vouching and verification
* Supporting evidence review

***

#### **3. Presentation & Completion**

Contains closing and presentation-related procedures.

Examples:

* Disclosure reviews
* Presentation checks
* Final conclusion procedures
* Completion summaries

***

### **Sampling Integration**

The Execute section includes a dedicated **Sampling** activity for each scoped FSLI.

This is where auditors perform and manage sampling procedures before detailed testing begins.

Auditors can:

* Open the Sampling section for the FSLI
* Perform targeted and non-statistical sampling
* Generate and review selected samples
* Finalize the sample population for testing

Once sampling is completed, the selected samples can be used as the basis for execution procedures and supporting audit workpapers.

***

### **Assertions**

Each workpaper displays the related assertions being tested.

Examples include:

* Completeness
* Accuracy
* Valuation
* Existence
* Occurrence
* Cut-off
* Presentation & Disclosure

This helps auditors clearly understand the objective of each procedure.

***

### **Progress & Review Tracking**

The Execute tab also displays:

* Workpaper progress
* Review status
* Assigned users
* Completion state

This helps teams monitor audit execution across all scoped accounts.

***

## **3. Complete**

The Complete tab contains closing-stage and reporting-related workpapers.

These support final audit conclusion and engagement sign-off activities.

#### **Examples**

* Overall Misstatement Evaluation
* FS-Wide Disclosure Checklist
* Subsequent Events Review
* Going Concern Conclusion
* Key Audit Matters Assessment
* EQCR & Partner Review Resolution
* Final Audit Sign-off & Archival

***

### **Purpose of the Complete Stage**

This section helps auditors:

* Conclude the engagement
* Finalize documentation
* Resolve review points
* Complete reporting procedures
* Prepare for final sign-off

***

## **Assignments & Collaboration**

Across all tabs, auditors can:

* Assign workpapers to team members
* Track reviewer progress
* Monitor completion status
* Manage approvals and review cycles

This improves coordination and accountability across the engagement team.

***

## **Manual Workpaper Creation**

Auditors can also:

* Add new sections
* Create manual workpapers
* Define procedure categories
* Assign assertions
* Upload supporting documents

This provides flexibility for engagement-specific requirements.

***

## **Workpaper Statuses**

Workpapers can move through statuses such as:

* Not Started
* Pending
* In Progress
* Approved
* Completed
* Rejected

This helps teams track execution and review progress efficiently.

***

## **How Workpapers Connect to the Audit Flow**

The Workpapers module converts outputs from:

* Materiality
* Risk Assessment
* Scoping
* Sampling

into actual audit procedures and documentation.

It becomes the core execution layer of the engagement.