Audit Documentation
Audit documentation’ means the record of audit procedures performed, relevant audit evidence
obtained and the conclusions the auditor reached.
Professional judgment is subjective. It needs to be supported by the facts and circumstances of the
engagement or by sufficient appropriate audit evidence.
Therefore, these matters need to be appropriately documented.
Need/ importance of documentation
1. Provides evidence of the auditor’s basis for a conclusion about the achievement of the overall
objective of the audit.
2. Provides evidence that the audit was planned and performed in accordance with ISAs and applicable
legal and regulatory requirements.
3. Assists the engagement team to plan and perform the audit.
4. Assists members of the engagement team responsible for supervision to direct, supervise and
review the audit work.
5. Enables the engagement team to be accountable for its work.
6. Retains a record of matters of continuing significance to future audits.
Contents of a working paper
1. Name of client – identifies the client being audited.
2. Year-end date – identifies the year end to which the audit working papers relate.
3. Subject – identifies the area of the financial statements that is being audited, the topic area of the
working paper, such as receivables circularisation.
4. Working paper reference – provides a clear reference to identify the number of the working paper,
for example, R12 being the 12th working paper in the audit of receivables.
5. Preparer – identifies the name of the audit team member who prepared the working paper, so any
queries can be directed to the relevant person.
6. Date prepared – the date that the audit work was performed by the team member; this helps to
identify what was known at the time and what issues may have occurred subsequently.
7. Reviewer – the name of the audit team member who reviewed the working paper; this provides
evidence that the audit work was reviewed by an appropriate member of the team.
8. Date of review – the date the audit work was reviewed by the senior member of the team; this
should be prior to the date that the audit report was signed.
9. Objective of work/test – the aim of the work being performed, could be the related financial
statement assertion; this provides the context for why the audit procedure is being performed.
10. Details of work performed – the audit tests performed along with sufficient detail of items selected
for testing.
11. Results of work performed – whether any exceptions arose in the audit work and if any further work
is required.
12. Conclusion – the overall conclusion on the audit work performed, whether the area is true and fair.
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Audit documentation’ means the record of audit procedures performed, relevant audit evidence
obtained and the conclusions the auditor reached.
Professional judgment is subjective. It needs to be supported by the facts and circumstances of the
engagement or by sufficient appropriate audit evidence.
Therefore, these matters need to be appropriately documented.
Need/ importance of documentation
1. Provides evidence of the auditor’s basis for a conclusion about the achievement of the overall
objective of the audit.
2. Provides evidence that the audit was planned and performed in accordance with ISAs and applicable
legal and regulatory requirements.
3. Assists the engagement team to plan and perform the audit.
4. Assists members of the engagement team responsible for supervision to direct, supervise and
review the audit work.
5. Enables the engagement team to be accountable for its work.
6. Retains a record of matters of continuing significance to future audits.
Contents of a working paper
1. Name of client – identifies the client being audited.
2. Year-end date – identifies the year end to which the audit working papers relate.
3. Subject – identifies the area of the financial statements that is being audited, the topic area of the
working paper, such as receivables circularisation.
4. Working paper reference – provides a clear reference to identify the number of the working paper,
for example, R12 being the 12th working paper in the audit of receivables.
5. Preparer – identifies the name of the audit team member who prepared the working paper, so any
queries can be directed to the relevant person.
6. Date prepared – the date that the audit work was performed by the team member; this helps to
identify what was known at the time and what issues may have occurred subsequently.
7. Reviewer – the name of the audit team member who reviewed the working paper; this provides
evidence that the audit work was reviewed by an appropriate member of the team.
8. Date of review – the date the audit work was reviewed by the senior member of the team; this
should be prior to the date that the audit report was signed.
9. Objective of work/test – the aim of the work being performed, could be the related financial
statement assertion; this provides the context for why the audit procedure is being performed.
10. Details of work performed – the audit tests performed along with sufficient detail of items selected
for testing.
11. Results of work performed – whether any exceptions arose in the audit work and if any further work
is required.
12. Conclusion – the overall conclusion on the audit work performed, whether the area is true and fair.
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