The preparation of working papers is an integral part of a CPA's examination of financial statements. On

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The preparation of working papers is an integral part of a CPA's examination of financial statements. On a recurring engagement, a CPA reviews his audit programs and working papers from his prior examination while planning his current examination to determine their usefulness for the current engagement.

Required:

a. 1. What are the purposes or functions of audit working papers?

2. What records may be included in audit working papers?

b. What factors affect the CPA's judgment of the type and content of the working papers for a particular engagement?

c. To comply with GAAS, a CPA includes certain evidence in his working papers-for example, "evidence that the engagement was planned and work of assistants was supervised and reviewed." What other evidence should a CPA include in audit working papers to comply with generally accepted auditing standards?

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