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

Business risk analysis, Business Risk Analysis Business risk can be ana...

Business Risk Analysis Business risk can be analyzed between external and internal risks: External risks: Changing legislation (e.g. minimum wage) Changing inter

Discuss the value of external audit, The management of a newly incorporate...

The management of a newly incorporated company is unsure as to the need for an audit. Your services have been requested to explain to management the concept of auditing. Requir

Post balance sheet events, Post Balance Sheet Events Post balance shee...

Post Balance Sheet Events Post balance sheet events occupy a very significant place in auditing and hence there is generally a program of work which is carried out in this are

RISKS AND CONTROLS, oversee commission staff to ensure individuals are prop...

oversee commission staff to ensure individuals are properly trained and monitored probable risks, controls and audit tests

Balance sheet and income statement, OBJECTIVES To apply certain st...

OBJECTIVES To apply certain steps in the audit planning process, with emphasis on risk identification and audit response (strategy) thereto. To provide you with the exp

Audit evidence, State four factors considered determining sufficiency of a...

State four factors considered determining sufficiency of audit evidence

Auditors procedures - disclosure and presentation, Auditors Procedures - Di...

Auditors Procedures - Disclosure and Presentation 1) Ascertain that what steps the client uses to identify suppliers, selling on terms that reserve title by enquiry of those c

Final review of the financial statements, Final Review of the Financial Sta...

Final Review of the Financial Statements The work we have considered so far has shown which the auditor first gathers facts that the enterprise and the environment it operates

Auditor, The most effective means for an AUDITOR to confirm his understandi...

The most effective means for an AUDITOR to confirm his understanding how internal control over financial reporting is designed and operates to test and evaluate its effectiveness.

A test for unrecorded liabilities, should your test for unrecorded liabilit...

should your test for unrecorded liabilities be affected by the fact that a letter is obtained in which a responsible management official certifies that to the test of his knowledge

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