Circumstances When Requests for Access Are Made
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The table below outlines:
a. common circumstances when requests for access to an external auditor’s audit working papers may arise and when requests for access to an internal audit provider’s working papers may arise;
b. specific paragraphs in this GS that could be considered in deciding whether access may be granted; and
c. the example letter(s) auditors may use for each specific circumstance listed.
Circumstances | Relevant Guidance Statement Paragraph | Example Letters in Appendix 1 |
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1. Group Audit
When a group auditor wishes to review the audit working papers of another auditor, in connection with a group audit. The auditor may consider whether it is necessary to establish conditions for access to the audit working papers. |
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2. Prospective Purchaser, Investor or Lender
When a third party adviser to a prospective purchaser, investor or lender of the auditor’s client wishes to review the audit working papers to obtain information to assist them advise their client about a transaction. |
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3. Predecessor/Successor Auditor
When an entity’s newly appointed auditor (successor auditor) wants to consider the predecessor auditor’s audit working papers in connection with the next assurance engagement on the entity. |
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4. Internal Audit
Where the internal audit function is outsourced to an internal audit provider and the entity’s external auditor wants to review the entity’s internal audit working papers belonging to the internal audit provider in connection with an audit. |
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5. Access to audit working papers of an entity that is neither a controlled entity nor a component (not under ASA 600).
When an auditor wishes to review the audit working papers of another auditor of an entity that is neither a controlled entity nor a component, in connection with an audit. |
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