Audit Documentation

Question 1

What is the definition of Audit Documentation?

Answer 1

Audit documentation constitutes the principal record of the work that the auditors have performed in accordance with standards and the conclusions that the auditors have reached. The quantity, type, and content of audit documentation are a matter of the auditor’s professional judgement.

Question 2

Why should auditor’s prepare documentation? Who uses it?

Answer 2

Auditor’s should prepare audit documentation in sufficient detail to enable an experienced auditor , having no previous connection to the audit, to understand from the audit documentation the NATURE, TIMING, EXTENT, and RESULTS of audit procedures performed, the audit EVIDENCE OBTAINED and its SOURCE.

Question 3

Which section of the Audit Standards cover Audit Documentation and what does it say is required?

Answer 3

AU-C 230

The objective of the auditor is to prepare documentation that provides:

a. Sufficient appropriate record of the basis for the auditor’s report
b. Evidence that the audit was planned and performed in accordance with GAAS and applicable legal and regulatory requirements

Question 4

What five items need to be included in audit documentation?

Answer 4

• Source
• Purpose
• Procedures
• Results
• Conclusions

Question 5

In audit documentation, what needs to be recorded when citing an interview source?

Answer 5

Date, Name, Title, Agency, Phone, Email

Question 6

What is the purpose of audit documentation?

Answer 6

To tie back to a procedure summary step or audit program step, or in some cases, to another workpaper.

Question 7

Who reviews audit documentation and in what order?

Answer 7

1. Peer Reviewer
2. Project Manager or designee
3. Audit Manager
4. Quality Control