NUMBER AND CROSS REFERENCE WORKING PAPER
by balqis hasmizi
1. audit working paper is used to support the audit work
2. FORMAT WORKING PAPER - name of client - subject,purpose - balancing sheet date - index number of working paper - date work paper were prepared - date of work paper were reviewed - initial of auditor preparing paper work - initial of person reviewing the paper work
3. TYPE OF AUDIT FILE
3.1. PERMANET FILE
3.1.1. set of record s that serve as an references for an organization's external organization
3.2. CURRENT FILES
3.2.1. files that keep all information related to current year auditing
3.3. CORRESPONDENCE FILES
3.3.1. lowest level of auditing by the IRS
3.3.2. IRS sends taxpayer a written request for additional information about a specific item or issues on their tax return
4. CONTENT WORKING PAPER
4.1. - name of client
4.2. - period covered by audit
4.3. subject matter
4.4. file reference
4.5. initial signature of staff who prepared
5. FUNCTION OF WORKING PAPER
6. PURPOSE OF AUDIT FILE
6.1. the stpry of how audit team arrived at its conclusions
7. PURPOSE WORKING PAPER
7.1. documents which record all audit evidence obtained during financial statements auditing
8. CONTENT OF AUDIT FILE
8.1. CASHBOOK
8.2. PAYROLL
8.3. BANK STATEMENT
8.4. BANK RECONCILATION
8.5. MANAGEMENT REPORT
8.6. SALES REPORT
9. AUDIT DOCUMENTATION
9.1. NATURE OF AUDIT DPCUMENTATION
9.1.1. to be perfomed and identified risk of material mistatement and significant deficincy
9.2. PURPOSE OF AUDIT DOCUMENTATION
9.2.1. should be prepared in suffient detail to provide a cleear understanding of its purpose source and the conclusions reached
10. AUDIT PROGRAMME
10.1. ALSO CALLED AUDIT PLAN
10.2. ACTION PLAN THAT DOCUMENTS WHAT PROCEDURES AN AUDITOR WILL FOLLOW TO VALIDATE THAT AN ORGANIZATION
10.3. ADVANTAGE
10.3.1. SUPERVISION OF WORK
10.3.2. UNIFORMITY OF WORK
10.3.3. DISTRUBUTION OF WORK
10.4. DISADVANTAGE
10.4.1. RIGIDNESS
10.4.2. NO INITIATIVE
10.4.3. TOO MECHANICAL