Working papers are the audit work record to be reviewed by the senior audit staff to make sure that sufficient audit work was performed to form an opinion. When an audit firm is appointed the areas are distributed among the audit team that separately audit individual components of the audit assignment. Each audit staff performs various procedures such as reconciliations, recalculations, confirmations, etc.
The audit working papers record these procedures that are necessary to make sure that the accounting records of the audit clients are checked in accordance with the auditing standards to reach a reasonable conclusion on the basis of audit work performed.
Each of the following situations involves a possible violation of the AICPA's
The following questions concern audit documentation. Choose the best response.
Analytical procedures are an important part of the audit process and consist
Describe the Working Papers section of a BNA tax management portfolio.
Accelerator, Inc., manufactures a fuel additive, Surge, that
The completed work sheet for Oliver Tour Company as of
The completed work sheet for Valerie Insurance Agency as of
You have completed the field work in connection with your audit of
The journal entries for May, Kiddy Day Care’s second month
The journal entries for August, Carley’s Car Care’s second month
