e)Assist in planning the subsequent audit assignment (with backgroundinformation, key issues identified in previous audits, and matters for followup).
13.3The Quality of Working Paper Files
13.3.1Good working papers contribute to the efficiency and effectiveness of theoperations of DAGP. By contrast, poor working papers can:a)Reduce the likelihood of including all pertinent findings in the audit report; b)Lead to inaccurate/incomplete findings and erroneous conclusions in theaudit report;c)Hinder the review of the audit work and supervision of the audit;d)Compromise the audit as a whole; ande)Endanger DAGP’s reputation.13.3.2Every auditor has a professional responsibility to maintain high qualityworking papers. The working papers are the ultimate evidence of thequality of the auditor’s work.
Standards and Characteristics of Proper Working Papers
13.3.3Audit offices normally have a records management manual describing thestructure, use, review, maintenance, storage and disposal of working papers. The filing systems, filing codes, rules for access and safekeepingshould be defined and the auditor should comply with these standards.13.3.4There should be standards regarding the form and content of working paper files. The existence of standards helps to ensure uniformity in filingmaterial, which makes it easier for a new auditor on the assignment, or amore senior auditor conducting a review of the files, to access theinformation on file.13.3.5DAGP’s documentation standards require the auditor to ensure that all auditevidence, including the process used to obtain it and the conclusionsderived from it, are properly documented in audit working papers.13.3.6As well as evidence to support the audit report, the files should also includematerial on:a)The audit plan (including risk assessments and other rationale for auditscope decisions, and audit programmes); b)The management of the audit (including assignment of responsibilities,scheduling and budgeting of the work, minutes of team meetings, changesto audit programme, checklists, list of personnel interviewed, notes on allinterviews, meetings and physical inspections);c)Evidence of reviews of audit files and audit work;d)Audit work even if not included within the audit report (such as evidence of evaluations of internal controls);
Audit Manual – Chapter 13
Every auditor has a professionalresponsibility tomaintain quality working papers.