Advanced Auditing & Assurance - Lecturer Mr.T. Sivasenthinathan Page 2
V. The need in the particular circumstance for direction, supervision and review of work performed, by
VI. Specific audit methodology and technology use in the course of the audit.
The masters normally included in working paper.
I. Information regarding legal and organizational structure of the entity.
II. Extract or copies of important legal documents.
III. Information regarding the industry economic environment and legal environment.
IV. Evidence of planning process including audit programme.
V. Evidence of auditor’s consideration of work of the final account and conclusion reached.
VI. Evidence of inherent and control risk assessment
VII. Analysis of significant ratio &trends
VIII. Evidence that work performed by assistant was supervised and reviewed.
IX. Copies of communication with other auditors, expert and 3
party discuss with entity.
X. Letters of representation received form entity.
XI. Copies of financial statement audited.
Permanent File Temporary file
The maters shown in the audit working papers could be included in the permanent file & current file.
Permanent audit file.
Permanent file contains documents of continuing important with will be required for future audit mail
objective of maintaining permanent file is to provide back round information of the entity to audit staff the
permanent file should be updated. In considering the changes that have been taken.
Following matters may be included in the permanent file.
I. Article of association
II. Copies of important documents.
Eg: - Copy of the letter of engagement, Copy of agreement 3
III. For verification of assets – copies of the little deeds.
IV. Address of the registered office of the entity including location of branches, factories, marketing