After fieldwork audit procedures are completed, a partner of the CPA firm who has not been involved in the audit performs a second or wrap-up working paper review.

This second review usually focuses on

a. The fair presentation of the financial statements in conformity with GAAP.

b. Fraud involving the client’s management and its employees.

c. The materiality of the adjusting entries proposed by the audit staff.

d. The communication of internal control weaknesses to the client’s audit committee.