Current File – NBC Institute

AA – May 2017 – L2 – SC – Q6 – Audit Documentation

Explanation of audit documentation purpose, and distinction between permanent and current audit files.

Question

ISA 230 requires the Auditor to prepare documentation on a timely basis, sufficient to enable an experienced auditor, with no previous connection with the audit, to understand significant matters arising during the audit and the conclusions reached thereon.

You are required to:

(a) Explain THREE reasons for preparing audit working papers. (3 Marks)
(b) State FIVE other purposes of audit documentation. (5 Marks)
(c) List FIVE items of information that might be included in the Permanent Audit File. (5 Marks)
(d) Explain what differentiates the Permanent Audit File from the Current Audit File. (2 Marks)

Answer

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Tags: Audit Working Papers, Current File, Documentation, ISA 230, Permanent File
Level: Level 2

Topic: Audit Documentation
Series: MAY 2017

Question Tag: Current File

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AA – May 2017 – L2 – SC – Q6 – Audit Documentation

Explanation of audit documentation purpose, and distinction between permanent and current audit files.

AA – May 2017 – L2 – SC – Q6 – Audit Documentation

Explanation of audit documentation purpose, and distinction between permanent and current audit files.

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