- 20 Marks
AA – Nov 2019 – L2 – Q5 – Audit Documentation
Discuss the archiving of audit working papers, their purposes, types, contents, and ownership conditions.
Question
Your firm has just recruited some audit trainees. It is the practice of the firm to give orientation to the newly recruited so that they could be familiar with the firm’s operations, especially before the commencement of an audit busy season.
As an audit senior in the firm, you have been directed to facilitate the programme for the newly hired trainees. You were allocated a topic on the archiving and retrieval of audit documents for a current year audit.
Required:
Based on your experience over the years, discuss:
a. Audit working paper archiving (1 Mark)
b. The purposes of audit working papers archiving (6 Marks)
c. The types, contents, and importance of audit working paper files (8 Marks)
d. The owner of audit working paper files and the conditions under which access to them could be granted to a third party (5 Marks)
Find Related Questions by Tags, levels, etc.
- Tags: Archiving, Audit Processes, Audit Working Papers, Documentation
- Level: Level 2
- Topic: Audit Documentation
- Series: NOV 2019