Question

ISA 230 six factors which affect the form and content of audit working papers necessary

Answer 1

The form, content and extent of audit documentation depend on factors such as:

•The size and complexity of the entity.
• The nature of the audit procedures to be performed.
• The identified risks of material misstatement.
• The significance of the audit evidence obtained.
• The nature and extent of exceptions identified.
•The need to document a conclusion or the basis for a conclusion not readily determinable from the documentation of the work performed or audit evidence obtained.
•The audit methodology and tools used.