Examples of audit documentation include memoranda, confirmations, correspondence, schedules, audit programs, and letters of representation. Audit documentation may be in the form of paper, electronic files, or other media.
Which of the audit standard represents audit documentation?
06 For purposes of GAAS, the following terms have the meanings at- tributed as follows: Audit documentation. The record of audit procedures performed, relevant audit evidence obtained, and conclusions the auditor reached (terms such as working papers or workpapers are also sometimes used).
What is audit documentation What are the purposes of audit documentation?
| Purposes of Audit Documentation | |
|---|---|
| 1 | It provides evidence of auditors’ basis for a conclusion about the achievement of the overall objective. |
| 2 | It provides evidence showing that audit work was properly planned and performed in accordance with ISAs and other legal and regulatory requirements. |
What is the main purpose of audit documentation?
It provides evidence of the auditor’s basis for a conclusion about the achievement of the overall objective. It provides evidence that the audit was planned and performed in accordance with ISAs and other legal and regulatory requirements. It assists the engagement team to plan and perform the audit.
What are the different types of audit documentation?
The types of audit documentation that should be assembled include the following:
- Analyses conducted.
- Audit plans.
- Checklists.
- Confirmation letters.
- Memoranda and correspondence regarding issues found.
- Representation letters.
- Summaries of significant findings.
What is the nature of audit documentation?
The nature of audit evidence refers to the form of the evidence you’re looking at during the audit. It should include all accounting documents and may include other available information, such as the minutes of the board of directors meetings.
