Auditing working papers examples

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

During the audit, the auditor prepares several types of audit working papers: Permanent files: The auditor creates permanent files for ABC Corporation that contain relevant information about the company, such as its articles of incorporation, bylaws, and internal control documentation

While audit working papers serve an essential role in the auditing process, there are limitations to their use that should be considered

Some of the limitations of audit working papers are: Limited usefulness for non-audit purposes: Audit working papers are designed to document the audit procedures and evidence gathered during an audit engagement