- 15 Marks
AA – Nov 2015 – L2 – Q6 – Audit Documentation
Discussing the retention of working papers, justification for retaining them, and types of information found in audit files.
Question
Delta, Gamma, and Co. are the auditors to Hope Limited. The firm proposes to move their office to new premises and wishes to destroy old audit working papers beyond six years while others are to be converted into electronic copies by using scanners. Hope Limited, having decided to discontinue with Delta, Gamma & Co. as its auditors, has requested that the firm should hand over to their new auditors all the audit working papers of the previous years and the permanent audit file.
Required:
a. Advise Delta, Gamma & Co. on the above scenarios. (5 Marks)
b. Justify why it is important to maintain and keep audit working papers. (5 Marks)
c. State FIVE types of information you would expect to see in each of the following:
i. Permanent audit file
ii. Current working paper file (5 Marks)
Find Related Questions by Tags, levels, etc.
- Tags: Audit Documentation, Audit Process, Retention of Working Papers
- Level: Level 2
- Topic: Audit Documentation
- Series: NOV 2015