(Engagement Records) are the supporting

documentation for the entire audit, the

repository for the accumulated audit
evidence
ACCESS TO ENGAGEMENT RECORDS

The Chief audit executive (CAE) must control

access to engagement records. The Chief audit
executive must obtain the approval of senior
management and/or legal counsel prior to the
releasing such records to external parties, as
appropriate.

(IIA STANDARDS 2330.A1)

USE OF WORKING PAPERS

Provide the principal support for the engagement

communications.
Aid in planning , performance, and review of
engagements.
Document whether the engagement objectives were
achieved.
Facilitate third party Reviews.
USE OF WORKING PAPERS

Provide a basis for evaluating the internal audit Activity's

quality program.
Provide support in circumstances such as insurance
claims, fraud cases, and lawsuits.
Aid in the professional development of the internal audit
staff.
Demonstrate the internal audit activity's compliance
with the international standards for the Professional
Practice of Internal Auditing.
WORKING PAPERS CAN ALSO BE USED TO:

Justify and provide proof of work carried out.

Help auditors respond to questions abount coverage or
results.
Facillitate supervisory quality assurance reviews.
Provide supporting evidence when external auditors or
other reviews want to rely on the results.
FORMS OF WORKING PAPER

• IIA Standard Consequently, The Chief Audit Executive

(CAE) must develop retention requirements for
engagement records, regardless of the medium in which
each record is stored.
• The organization, design and content of set of internal
audit working papers wil depend on the nature of the
audit.
DESIGN AND CONTENT OF WORKING PAPER
Planning.
Risk assessment.
The examination and evaluation of the adequacy and
effectiveness of the system of internal control.
The engagement procedures performed, the information
obtained and the conclusions reached.
Review.
Communication.
Follow up.
A completed set of working paper should be neat
and uniform in size and appearance and include:

An index to contents.

A legend of symbols and abbreviations used.
A statement of the purpose of the working papers.
Evidence of the application of the audit program.
The results of the audit.
• Within the set of working papers, each page should be
include a descriptive heading, the auditor's name or
initials and dates of preparation, appropriate cross-
references and evidence of supervisory review and
comments.
• Each audit working paper file should have an indexing
system to assist future users to easily consult the
information it contains.
• Working Papers should properly cross-referenced.
The following items should be cross-referenced:

• Specific items in the audit report to the pertinent audit

observation worksheet.
• Audit observation worksheets to the supporting
evidence.
• Evidence that relates to the other evidence.
• Audit program steps to the supporting evidence.