The auditing guideline on „recording‟ requires audit working papers to be sufficient complete and detailed so that an experienced auditor who has no previous connection with the audit is able to subsequently ascertain from working papers the work performed and to further support the conclusions reached thereon. Required: State four benefits that the auditor will obtain from the working papers that meet the above requirements

Benefits of working papers

  • The reporting partner needs to satisfy himself that work delegated by him has been properly performed. This is only possible by reviewing detailed working papers prepared by the audit staff who performed the work. This also aids in supervision and review of work done by audit assistants.
  • Working papers provide details of problems encountered together with evidence of work performed and conclusions drawn there from in arriving at the conclusions reached. These details can also serve as a good reference point for future audits.
  •  Preparation of working papers encourages the auditor to adopt a methodical approach to his work.
  •  Working papers assist in the planning and performance of audits in future financial periods.
  •  If sued for negligence working papers act as evidence of work done.
  •  They are used for training of audit staff. Working papers contain audit programs and specimen schedules, which audit assistants, can refer to when conducting an audit



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