Question

1. List the functions of audit documentation.

Answer 1

Solution:

Audit documentation is the written record of the auditors conclusion. It help the auditors for representation. It is also called work papers or working papers. It provides sufficient and required record of the auditors work.

Functions of audit documentaion:

1) Supporting the engagement team to plann and perform the audit

2) Taking back a record of matters of continuing significance to future audits

3) Ensure complete and valid informations to it's users.

4) Ensure the quality control reviews and inspections in accordance

5) Facilitates control and review of the work performed by assistans

6) To help the users for decision making related with the internal problems.

7) To ensure rectification of errors and mistakes on a periodical basis.

8) Ensure the system of work based on the International accounting standards and maintaining the standards.