In the United States, the Securities and Exchange Commission (SEC) requires public companies and their auditors to retain audit working papers for at least seven years from the end of the fiscal period in which the audit was completed
Audit working paper is significant for audit conclusion; therefore, the auditor needs to ensure the good quality of audit working papers are prepared
This requires proper review and supervision from the person who has better experiences and knowledge
For the best practice, the audit working papers should review by experience level
This signature indicates that the working papers prepared by the client have been ‘audited
’ It also demonstrates that these working papers have been checked and are ready for review by the manager, partner, and any subsequent reviewers
What constitutes a good audit working paper?
Industry involved in the manufacture of paper and paperboard
\nThe pulp and paper industry comprises companies that use wood as raw material and produce pulp
And other cellulose-based products.
