Question

Discuss and give examples of 3 types of audit documentation.

Answer 1

Audit documentation is a written record of the basis for auditor's conclusions.

Purposes of Audit Documentation

1.Assist engagement team to plan & perform & review the work
2. Retain record
3.Enabling inspections of completed audit
4. Help auditor's understand work from prior year

Types of Audit Documentation

1.Audit Planning documentation
2. IC understanding & walk throughs
3. Permanent file documents
4. Trial balance
5. audit programs
6. workpapers for TOC & TOD
7. technical accounting memos & specialists
8. Audit conclusion documentation