71 paragraphs found
An example of a circumstance in which the auditor may find it necessary to modify existing audit documentation or add new audit documentation after file assembly has been completed is the need to clarify existing audit documentation arising from comments …
The auditor shall prepare audit documentation on a timely basis. (Ref: Para. A1) …
The auditor shall prepare audit documentation that is sufficient to enable an experienced auditor, having no previous connection with the audit, to understand: (Ref: Para. A2‑A5 , A16‑A17) The nature, timing, and extent of the audit procedures performed …
In documenting the nature, timing and extent of audit procedures performed, the auditor shall record: The identifying characteristics of the specific items or matters tested; (Ref: Para. A12) Who performed the audit work and the date such work was …
The auditor shall document discussions of significant matters with management, those charged with governance, and others, including the nature of the significant matters discussed and when and with whom the discussions took place. …
Preparing sufficient and appropriate audit documentation on a timely basis helps to enhance the quality of the audit and facilitates the effective review and evaluation of the audit evidence obtained and conclusions reached before the auditor’s report is …
The form, content and extent of audit documentation depend on factors such as: The size and complexity of the entity. The nature of the audit procedures to be performed. The identified risks of material misstatement. The significance of the audit …
Audit documentation may be recorded on paper or on electronic or other media. Examples of audit documentation include: Audit programs. Analyses. Issues memoranda. Summaries of significant matters. Letters of confirmation and representation. …
The auditor need not include in audit documentation superseded drafts of working papers and financial reports, notes that reflect incomplete or preliminary thinking, previous copies of documents corrected for typographical or other errors, and duplicates …
Oral explanations by the auditor, on their own, do not represent adequate support for the work the auditor performed or conclusions the auditor reached, but may be used to explain or clarify information contained in the audit …