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

Audit, The auditors for Weston University are conducting their audit for th...

The auditors for Weston University are conducting their audit for the fiscal year ended December 31, 2011. Specifically, the audit firm is now focusing on the audit of revenue from

Business risk approach, Business Risk Approach This approach requires t...

Business Risk Approach This approach requires the auditor to determine what are the very important business risks which the client faces. This line of approach both helps the c

Key audit areas, Key Audit Areas Key audit areas in detail (a) Asc...

Key Audit Areas Key audit areas in detail (a) Ascertainment of creditors and debtors:   Insurance companies do not keep their personal ledgers in such a way as to prod

Capital allowances vs. depreciation, Capital allowances vs. Depreciation ...

Capital allowances vs. Depreciation Whether the client can prove such they will keep the existing levels of investment in original terms, then there may be justification to ac

Distinguish between analytical procedures required by ASA315, what differen...

what difference between risk assessment procedure and substantive procedures? could you please provide some examples on each procedure?

Verification of liabilities - audit process, Verification of Liabilities - ...

Verification of Liabilities - Audit Process Usually speaking, the auditor's duty along with regard to liabilities can be summarised follows as: 1. To confirm the existence of

Audit evidence, four factors which influence the reliability of audit evide...

four factors which influence the reliability of audit evidence

A disadvantage of the corporate form of organization, Q. Which of the follo...

Q. Which of the following statements is not considered a disadvantage of the corporate form of organization? a. Additional taxes b. Government regulations c. Limited liability of s

Advocates, Advocates The statutory provision regulating the handling of...

Advocates The statutory provision regulating the handling of client’s monies is covered in the advocate's act. Principle of the rules: To require a lawyer to keep

Assignment , Length: 2000 words Submission method options Alternative submi...

Length: 2000 words Submission method options Alternative submission method Task Question 1 (5%) Case: Battersby and Associates Chartered Accountants is a successful mid-tier ac

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