Question Tag: ISA 230

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AA – Nov 2022 – L2 – Q2a – Audit Documentation Requirements

Overview of audit documentation requirements per ISA 230, including reasons and required contents.

Question

The International Standards on Auditing (ISA) 230 deals with the auditor’s responsibility to prepare audit documentation for an audit of financial statements.

Required:
a. State FIVE reasons for preparing audit documentation. (5 Marks)
b. Highlight the requirements of ISA 230 on audit documentation. (3 Marks)
c. State FIVE contents each of current and permanent files. (10 Marks)
d. Explain who owns audit working papers and why. (2 Marks)

Answer

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Tags: Audit Documentation, Audit Files, ISA 230, Working Papers
Level: Level 2

Topic: Audit Documentation, ISA 230 Requirements
Series: NOV 2022

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

AA – July 2023 – L2 – Q5b – Audit and Assurance Evidence, Professional and Ethical Considerations

Explanation of five benefits of documenting audit work.

Question

b) ISA 230: Audit Documentation deals with the auditor’s responsibility to prepare audit documentation for an audit of financial statements.

Required:
State FIVE (5) benefits of documenting audit work. (5 marks)

Answer

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Tags: Audit Documentation, Audit Work, Benefits, ISA 230
Level: Level 2

Topic: Audit and Assurance Evidence, Professional and Ethical Considerations
Series: JULY 2023

AA – Nov 2021 – L2 – Q1c – Audit and Assurance Evidence

Explains three purposes of audit documentation in line with ISA 230.

Question

Audit evidence may come in many forms. For instance, enquiries may be verbal, while confirmations may be in written form. Regardless of the form of audit evidence they obtain, auditors need to document their procedures. The process of documenting audit evidence is known as audit documentation.

Required:
Explain THREE (3) purposes of audit documentation in line with ISA 230: Audit Documentation.
(3 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Documentation, Audit evidence, Audit Procedures, ISA 230
Level: Level 2

Topic: Audit and Assurance Evidence
Series: NOV 2021

AA – Nov 2022 – L2 – Q2a – Audit Documentation Requirements

Overview of audit documentation requirements per ISA 230, including reasons and required contents.

Question

The International Standards on Auditing (ISA) 230 deals with the auditor’s responsibility to prepare audit documentation for an audit of financial statements.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Documentation, Audit Files, ISA 230, Working Papers
Level: Level 2

Topic: Audit Documentation, ISA 230 Requirements
Series: NOV 2022

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

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

Question

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

Find Related Questions by Tags, levels, etc.

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

Topic: Audit Documentation
Series: MAY 2017

AA – July 2023 – L2 – Q5b – Audit and Assurance Evidence, Professional and Ethical Considerations

Explanation of five benefits of documenting audit work.

Question

b) ISA 230: Audit Documentation deals with the auditor’s responsibility to prepare audit documentation for an audit of financial statements.

Required:
State FIVE (5) benefits of documenting audit work. (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Documentation, Audit Work, Benefits, ISA 230
Level: Level 2

Topic: Audit and Assurance Evidence, Professional and Ethical Considerations
Series: JULY 2023

AA – Nov 2021 – L2 – Q1c – Audit and Assurance Evidence

Explains three purposes of audit documentation in line with ISA 230.

Question

Required:
Explain THREE (3) purposes of audit documentation in line with ISA 230: Audit Documentation.
(3 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Documentation, Audit evidence, Audit Procedures, ISA 230
Level: Level 2

Topic: Audit and Assurance Evidence
Series: NOV 2021

Question Tag: ISA 230

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AA – Nov 2022 – L2 – Q2a – Audit Documentation Requirements

Overview of audit documentation requirements per ISA 230, including reasons and required contents.

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

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

AA – July 2023 – L2 – Q5b – Audit and Assurance Evidence, Professional and Ethical Considerations

Explanation of five benefits of documenting audit work.

AA – Nov 2021 – L2 – Q1c – Audit and Assurance Evidence

Explains three purposes of audit documentation in line with ISA 230.

AA – Nov 2022 – L2 – Q2a – Audit Documentation Requirements

Overview of audit documentation requirements per ISA 230, including reasons and required contents.

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

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

AA – July 2023 – L2 – Q5b – Audit and Assurance Evidence, Professional and Ethical Considerations

Explanation of five benefits of documenting audit work.

AA – Nov 2021 – L2 – Q1c – Audit and Assurance Evidence

Explains three purposes of audit documentation in line with ISA 230.

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