Standardization of working papers - auditing, Auditing

Assignment Help:

Standardization of Working Papers - Auditing

The ICPAK guideline states that the needs of standardized working papers may improve the effectiveness along with that they are reviewed and prepared.  Used accurately they support to instruct facilitate the delegation and audit staff of work whereas providing a means to control such quality.

Conversely, despite the profits of standardizing the routine documentation of the audit as e.g. specimen letters, checklists, standard organization of the working papers. So it is never suitable to follow mechanically a 'standard' approach to the documentation and conduct of the audit with no regard to exercise to the requirement professional judgment.

On balance, there may be a degree of consistency of working papers and practically all firms considered this need. At last, it should be notice that working papers are the property of the auditor and therefore the auditors should adopt process to ensure such their confidentiality or secure custody and-leaving them by the bus or matatu should such be avoided.


Related Discussions:- Standardization of working papers - auditing

Define master data management, (a) Define each of the following four concep...

(a) Define each of the following four concepts. -Master Data Management -Data Quality -Data Governance -Cloud Computing Explain how they relate to the various Busine

Joint auditor, advantage and disadvantage of joint auditor?

advantage and disadvantage of joint auditor?

Investment - audit process, Investment - Audit Process The investment ...

Investment - Audit Process The investment is held for wealth generation that as interest and dividends on shares and capital growth and loan notice.  Recent investments are re

Explain basic principles of an internal audit control system, The core prin...

The core principles of financial internal control are explained here: accounting and financial operations can be separated and the main purpose is the handling of cash and the copy

Describe an internal control system, Problem: "If the auditor wishes to...

Problem: "If the auditor wishes to place reliance on internal control,he should ascertain and evaluate those controls and perform compliance tests on their operation" (a) De

King&queen, a) Would King & Queen be liable to EFL? Provide specific case ...

a) Would King & Queen be liable to EFL? Provide specific case references to support your answer.

Auditing, YvesLaurent has just been put in charge of the BeautyNatural Inc....

YvesLaurent has just been put in charge of the BeautyNatural Inc. audit.BeautyNatural is a small, but growing retail chain of natural cosmetics stores. BeautyNatural needs to borro

History - true and fair, History - True and Fair International Standar...

History - True and Fair International Standards on Auditing (ISAs) make it quite clear that the terms 'true and fair' and 'present fairly' which are used in audit reports in m

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd