أنشئ حسابًا أو سجّل الدخول للانضمام إلى مجتمعك المهني.
Thanks for Invitation!!
Audit Working Papers: AAS 3 (SA 230) “Documentation”, states that the audit working papers are written records kept by the auditor, of the evidence gathered during the course of an audit, the methods and procedures followed and the conclusions arrived at. These papers generally include all the information that the auditor considers necessary to adequately conduct his examination and provide support for his audit report. It also includes a summary of all significant matters identified which may require the exercise of judgement together with the auditor’s conclusions thereon.
Thus the auditor is required to documents matters which are important in providing evidence, that the audit was carried out in accordance with the basic principles.
The documentation for the purpose refers to the audit working papers prepared by the auditor and retained by him in connection with the work performed by him.
AAS 3 (SA 230) on “Documentation” also requires that the “auditor should adopt reasonable procedures for custody and confidentiality of his working papers and should retain them for a sufficient period of time, such that it meets the needs of his practice and satisfy and pertinent legal or professional requirements of record retention”.
The audit working papers demonstrate the extent of audit work carried out and by whom. It also contains details of matters that need to be carried forward to the future. The maintenance of such working papers facilitate in conducting each year’s audit and provide a basis to the auditor. In fact, there can be circumstances when legal suit is brought against the auditor so as to ascertain whether or not he exercised “reasonable care and skill” while discharging his duties. In such instances, the Auditors recourse is his working papers.
Thus, it is imperative for an auditor to carefully preserve the audit working papers. Moreover, the working papers are the final evidence of the work performed by the auditor to support the auditor’s opinion.
all doc. used for work process in all department to organize it
Thanks for invitation
Working papers are the material the auditors prepare or obtain, and retain in connection with the performance of the audit .Working papers may be in the form of data stored on paper, firm, electronic media or other media.
The working papers support, amongst other things, the statement in the auditors, report as to the auditors' compliance or otherwise with Auditing standards to the extent that this is important in supporting their report.
Working papers are a record of the planning and performance of the audit, the supervisor and review of the audit work and the audit evidence resulting from audit work performed which the auditors consider important and on which they have relied to support their report.
Working papers are every paper that is being used in the audit process, if we are taking about Audit.;
1- The plan will be used to make the audit and the goal of the audit and related scope.
2- time-frame plan for the work
3- all evidence related to the subject of the audit goal.
4- handwriting papers of the notes have been used.
Thank you
Thanks for the invitation
Working Papers term referring to more than one thing .. It may be as you prefer, Mr. Abdul Khalique .. or may refer to external Accounting entries used by the accountant in preparing the consolidated financial statements of the holding companies and subsidiaries.
With my best wishes to you
Working papers are the supporting documents of the auditors which validates his reports.
