Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QUESTION FOUR a) ISA 230 Audit Documentation contains the following statement which regard to working papers: Audit working papers refer to the material prepared

image text in transcribed

QUESTION FOUR a) ISA 230 Audit Documentation contains the following statement which regard to working papers: Audit working papers refer to the material prepared by, or for, or obtained and retained by, the auditor in connection with the performance of the audit work. Such material may be in the form of paper or electronic media. The record of audit procedures performed, relevant audit evidence obtained, and conclusions the auditor reached in conducting an audit. The working papers must be sufficiently complete and detailed to provide an overall understanding of the audit. Required: i. Describe THREE benefits that the auditors will obtain from working papers that meet the above requirement. (3marks) ii. Working papers are usually split into two separate files; List these files and give TWO types of information in each of the file. (2marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: J. David Spiceland, Wayne Thomas, Don Herrmann

3rd edition

9780077506902, 78025540, 77506901, 978-0078025549

More Books

Students also viewed these Accounting questions

Question

7-5. Why are quotas important to IMF members?

Answered: 1 week ago

Question

=+b) Compute the SD for each decision.

Answered: 1 week ago