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Audit documentation in accountancy

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Higher National Diploma in Accountancy - Final Year
2018
Advanced Auditing & Assurance - Lecturer Mr.T. Sivasenthinathan Page 1
Handout - 04
AUDIT DOCUMANTATION
SLAUS 230
Introduction
Documentation means the working papers prepared by and for obtain and retained by the auditor in
connection with a performance of audit.
Purpose of Audit Documentation
1. Primary Purpose - Evidence for audit report
2. Additional - It is tools for Audit works auditor
Document Includes:-
Document Includes
Document Prepared by auditor Document prepared by Document prepared by
And held by auditor the client and held by auditor 3
rd
party and held by auditor
Eg:Audit plan, Audit program Eg: Financial statement, account Eg:bank conformation letter
Results of analytical review schedule, management representation copies of loan agreement
Lawyers conformation,
debtors conformation
The masters, the auditor should record in working papers.
I. Planning information of the audit.
II. Nature, timing and extent of audit procedures preformed.
III. Result of the audit procedures performed.
IV. Auditor conclusion drawn form the audit evidence obtained.
V. In areas involving difficult question of principal or judgment working papers will record the relevant
fact.
The masters effecting form & content of working papers.
I. Nature of engagement
II. The form of the audit report
III. Nature and complexity of business.
IV. Nature & condition of accounting and internal control

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Higher National Diploma in Accountancy - Final Year
2018
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
assistant.
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
rd
party discuss with entity.
X. Letters of representation received form entity.
XI. Copies of financial statement audited.
AUDIT FILE
Audit File
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
rd
party.
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
centers etc.

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Higher National Diploma in Accountancy - Final Year 2018 Handout - 04 AUDIT DOCUMANTATION SLAUS – 230 Introduction Documentation means the working papers prepared by and for obtain and retained by the auditor in connection with a performance of audit. Purpose of Audit Documentation 1. Primary Purpose 2. Additional - Evidence for audit report It is tools for Audit works auditor Document Includes:Document Includes Document Prepared by auditor Document prepared by And held by auditor the client and held by auditor Eg:Audit plan, Audit program Eg: Financial statement, account Results of analytical review schedule, management representation Document prepared by 3 party and held by auditor Eg:bank conformation letter copies of loan agreement Lawyers conformation, debtors conformation rd The masters, the auditor should record in working papers. I. II. III. IV. V. Planning information of ...
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