Exigencies of the audit documentation

Author:Emil CULDA

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Keywords:content of audit documentation, audit plan and programs, audit files, content of working documents, form of working documents

Abstract:
Exigencies of the audit documentation: \r\n• represents the main evidences (records) of the auditor’s work, as well as data basis and the information needed for audit report, audit opinion and conclusions;\r\n• concerns directly the audit planning and performance (audit engagement) representing the main material for the necessary reviews (supervisors) including those needed for the quality control of the audit work;\r\n• represents the main „pieces” (records) in the audit files (the permanent file, the current file) on the applied procedures and evidences obtained.\r\n\r\nIn other words, the audit documentation (audit evidences) can be perceived as the „story” of the engagement, being able to allow to any (advised) user of these to understand more easily the existing risks, the assertions tested, the applied procedures, how the evidences have been obtained and respectively how the conclusions have been reached on the financial statements based on the audit report and the audit opinion. \r\n\r\nWhen the engagement has been completed, the auditor should decide on the most adequate type of report he/she issues, the basis for this decision resulting from the evidences collected and from the conclusions mentioned in the working documents. \r\n\r\nThe working documents containing also the audit plan/the audit program should also prove (mention) the conformity of the audit performed with the applicable requirements (ISAs etc)\r\n\r\nThe working documents are structured and organized in such a manner to observe the requirements of the applicable standards as well as the auditor’s needs for each (individual) activity imposed by his/her engagement. \r\n\r\nThe use of some standardized working documents can improve the efficiency of the audit work, especially concerning the activities for audit evidences collecting, for these documents drafting and reviews.\r\n

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