Step 2 – Complete the Steps in SMART Practice Aids

After you have associated a SMART Practice Aids engagement with a corresponding engagement binder in Workpapers CS, launch the engagement and complete the SMART Practice Aids steps to generate tailored engagement programs and completed planning forms. For example, in an audit engagement:
  1. Identify risks – Complete planning forms and identify risks that could result in material misstatement of the financial statements.
  2. Assess effects of risks – Determine the extent of audit procedures necessary in light of identified risks.
  3. Review and modify audit programs – Review the suggested audit procedures and modify as needed.
Next, go to step 3 in the integration process, where you will generate documents and file them in the associated Workpapers CS engagement binder.