Professional Documents
Culture Documents
• Objectives
•Advantages
•Desirable Characteristics of Working Papers
•Organization of Audit Files
•Ownership
•Lien
Documentation = Audit Working Papers
Audit working papers “constitute all documents
prepared or obtained or retained by the auditor during
the audit and the audit conclusions.
Audit working papers are the connecting link between
the client’s accounting records and the auditor’s
report.
Audit Working papers are the written records kept by
the auditor of: (1) the evidence accumulated during
the course of audit, (2) the methods and procedures
followed and (3) the conclusions reached . They
include all information that the auditor considers
necessary to adequately conduct his examination and
provide support for his report.
Objectives/Utility of Working papers
Principal Objectives: Serve as auditor’s principal record of
work performed and conclusions reached regarding significant
matters.
Who performed the audit work and the date on which such work
was completed.
Who reviewed the audit work performed and the date and extent
of such review.
Content of Working Papers
Working papers should state:
Client’s Name
Type of Engagement
Nature of Client’s Business
Degree of reliance on Internal Controls
Sources of Information
Conclusion Reached
Supervision and Review of Work performed by Assistants
Filing of Working Papers
Audit Files