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The audit working paper are divided into two parts: The first group consists of the current file and second group contains the permanent file. The material relating to the current year only is placed in current file; The data to be used for a number of years placed in permanent file.
ISA 230 Audit Documentation is one of the International Standards on Auditing.It serves to direct the documentation of audit working papers in order to assist the audit planning and performance; the supervision and review of the audit work; and the recording of audit evidence resulting from the audit work in order to support the auditor's opinion.
Accounting Operations. Accounting records are key sources of information and evidence used to prepare, verify and/or audit the financial statements.They also include documentation to prove asset ownership for creation of liabilities and proof of monetary and non monetary transactions.
The primary audit object is the XBRL file (instance) containing the data. The auditor may give assurance to an XBRL financial statement, an XBRL report or XBRL real-time reporting. The secondary audit objects containing metadata that play a role in the XBRL reporting chain: The XBRL taxonomy, in three different instances:
Configuration items are represented by their properties. These properties can be common to all the configuration items (e.g. unique item code that we will generate, description of function, end of the lifecycle or business owner that is approving configuration item changes and technical owner, i.e. administrator, that is supporting it and implementing the changes).
An audit trail showing all access and changes can be maintained to ensure the integrity of the records. Just as the records of the organization come in a variety of formats, the storage of records can vary throughout the organization. File maintenance may be carried out by the owner, designee, a records repository, or clerk.
SAF-T (Standard Audit File for Tax) is an international standard for electronic exchange of reliable accounting data from organizations to a national tax authority or external auditors. The standard is defined by the Organisation for Economic Co-operation and Development (OECD).
They are independent of the system being audited and will use a read-only copy of the file to avoid any corruption of an organization’s data. Many audit-specific routines are used such as sampling. Provides documentation of each test performed in the software that can be used as documentation in the auditor’s work papers.