222

$show=home

Welcome to Accounting Education

The Accounting University with 3400+ Accounting contents as study material which can watch, read and learn anyone, anywhere.

Start your studies

$show=home

Latest $type=blogging$count=5$author=hide$comment=hide$label=hide$date=hide$show=home

Auditing and Assurance Standard 3

Documentation is the third auditing and assurance standard. In first standard of AAS, there is the rule to make the files of all papers which are needed for auditing. In this standard, all important papers and documents detail are given which are needed for auditing.

We should classify these files into two part. One is permanent file and other is current file. Following 5 documents will keep in the permanent file and next documents will keep in current file.

Following are main working papers and documents which are the must for audit of any company.

1. All Written Audit Plans

When an auditor get the offer to audit the accounts of any company. He has to make its written plan. In this plan, he will write the schedule of verification of assets and liabilities. He will also write the procedure of audit. It may be sample or to check each transaction. All written plan should be keep in a file.

2. Previous years'  Audited Financial Statements Copies

Auditor has to get some knowledge from previous years' audited financial statements. So, he should get its copy and should keep in it  a file.

3. Analysis Report of Important Ratios and Trends

Auditor has to give his own opinion on the financial position of company. For this, he will get the analysis report of important ratios and trends from management. He should also keep it in his records.


4. Copies of all Important Letters Which are Issued by Auditor to Management

Sometime, auditor does not understand the facts and information which are provided by management. For more clarification, he can write letter to management. All letter's copies must be kept in his record.

5. Written Communication Record with the Retiring Auditor

Retiring auditor knows the company more deeply. So, current auditor can get advice from retiring auditor. So, he should keep the written communication with the retiring auditor.

6. Correspondence Relating to Acceptance of Annual Appointment

Auditor should record the correspondence relating to acceptance of his annual appointment.

7. Board Meeting and General Meeting Minutes Copies which are related to Audit

Every discussion of board meeting and general meeting records in minutes. Auditor has right to get the copy of minutes which are relating to audit. Some issues may be discussed with shareholders. Shareholders may vote on some auditing issues. So, auditors should know what are the matter. Its knowledge, he can get from minutes.

8. Analysis of Transactions and Balances

If auditor has made the report after analysis of transactions and ledger balances, he should keep it in the file.

9. Evidence that the Work Performed by Assistants

Some work may be done by his assistants. Assistant should sign on his work. This will be evidence and it should be kept by auditor.

10. Copies of Communication with Other Auditors and Experts

If auditor takes the help of other auditors and experts, he should keep its written copies.


11. Copies of letters or Notes Concerning Audit Matters Discussed with Clients 

If auditor discuss any matter with his clients or clients of company, he should keep its copies in his record.


12. Copies of the Financial information being Reported on and the Related Audit Reports

All the financial information which he has shown in his audit report, should be record its copies in his file.

Auditor is the owner of all these working papers. He will keep it in his custody.

Related : Auditing and Assurance Standard 2

COMMENTS

Name

access,2,account,86,accountant,94,Accounting,680,accounting definitions,99,accounting ebook,3,Accounting education,85,Accounting Education Ads Help,1,accounting procedure,2,accounting process outsourcing,2,Accounting Software,52,advance,3,advertising,6,africa,7,Amalgamation,6,amendments,16,announcements,62,Annuity,2,assets,52,audit,46,auditing,41,Australia,2,B.Com.,22,balance sheet,84,bank,111,Bank reconciliation,12,banking,33,basic accounting,110,BBA,1,benefits,13,best,50,bill,12,black money,3,blog,12,bloggers,7,book keeping,4,bookkeeping,2,Branch Accounting - full tutorial,8,budget,35,Budget variance,13,business,65,businessman,9,CA,30,calculator,4,canada,3,capital,72,capital budgeting,27,career,21,cash,40,cash book,8,cash flow statement,11,Chiense,1,children,13,china,6,class,3,coaching,2,coins,2,college,6,commerce,10,commerce students,7,company,36,computer,9,computer accounting,1,conference,4,Contact vinod kumar,1,Control Your Spending,27,corporate accounting,69,cost,160,cost accounting,195,cost center,8,cost centre,1,CPA,2,credit,18,credit card,11,cs,10,currency,35,data,11,Debit and credit,17,debit cards,1,debt,62,debtor,21,degree,6,depletion,2,depreciation,38,Diwali Messages,12,documents,4,dollar,5,domain,3,Downloads,3,Dubai,1,e-accounting,17,earning,17,education,247,Education Loans,6,email,15,employee,4,EPF,2,ERP,7,euromoney,1,examination,7,excel,17,excise duty,6,expenses,65,facebook,7,factor of loan,1,fans,2,feature,32,fifo,5,FII,4,fiji,1,finacle,1,finance,823,Finance Journal Entries,4,Financial,134,financial accounting,145,Financial Statements,2,fire insurance,3,flickr,2,flow,4,forensic,4,forex,21,formula,8,france,1,fraud,6,free,2,fun,34,function,1,fund,48,GAAP,36,GDP,1,gdr,5,germany,1,gold,7,goodwill,4,goodwill accounting,3,google,34,google apps,3,google apps,1,google base,1,google buzz,1,google calendar,1,Google docs,38,google finance,3,google fusion tables,1,google talk,5,govt.,5,GST,33,guide,85,health,6,Hindi,2,Hindi Language,3,history,3,holding company,3,How to treat FBT in Tally 9,1,HRA,3,ICAI,11,ICAWI,3,ICICI Bank,1,IFRS,10,income,17,income statement,17,Income Tax,7,India,57,indian railway,1,Indonesia,1,inflation,4,inflation accounting,3,infographics,8,information,7,inspiration,176,insurance,14,insurance accounting,2,Intangible,3,interest,26,international,7,Internet,41,Introduction of Tally 9,1,inventory,41,investment,135,investment in Shares,6,invoice,3,IT,1,Japan,1,Job costing,4,journal entries,140,Journal Entries eBook Help,4,Kalculate,1,keyboard,3,kuwait,2,laptop,2,law,4,LBT,1,learning,36,lease,5,lecture,11,ledger,17,leducation,1,Leverage Analysis,7,liabilities,16,lifo,3,linkedin,1,loan,74,logical point,1,loss,5,loss of profit,1,M.Com.,5,m.phil,2,malaysia,3,management accounting,129,manual accounting,4,manufacturing account,1,market,11,marketing,3,mastercard,2,material,13,MBA,14,MCA,1,media,4,migration,2,mobile,9,money,61,ms word,3,ms. excel,14,multi currency in tally 9,1,Multicurrency Accounting,3,mutual fund,30,national security,1,new and sacrifice ratio,1,new york times,1,new zealand,1,news,1,NGO,5,nonprofit-accounting,6,North Georgia Mountains,1,Notification,1,NPV,17,NSE,1,odbc,2,office,10,oman,1,online application,2,online accounting,11,Online Accounting Course,5,otcei,1,pakistan,3,parents,3,Partnership,1,pay pal,3,pdf,4,Personal Finance,6,pie chart,1,pie chart of income,2,pnb,5,podcast,1,ppf,1,presentation,10,price,7,privacy policy,2,prof. vinod kumar,13,profit,24,profit and loss account,12,project management,11,provision,13,purchase,9,puzzles,2,quickbooks,2,Quote,22,quotes,42,quotes of svtuition,1,rating agency,2,ratio analysis,34,RBI,7,readers,13,real estate,13,rectification of errors,11,remote control,2,reports,10,reserves,8,responsibility accounting,4,retirement,2,revenue,3,Revenue reserves,2,review,7,risk,11,rupees,9,salary,5,sale,12,SAP,3,saudi arabia,1,saving,19,sbi,9,scholarship,2,school,1,SEBI,13,security,30,service tax,23,share,20,share trading,15,Shares,16,shri lanka,3,singapore,2,sms,6,social accounting,7,society,5,solution,218,South Africa,1,stock,24,stock exchange,22,structure,6,student,39,students,70,study,21,subsidiary company,2,svtuition,14,swiss bank,2,tally,100,tally 9,8,Tally 7.2,8,Tally 9,42,Tally.ERP 9,59,TallyPrime,1,tanzania,2,tax,94,Tax Accounting,30,TDS,15,teacher,62,teaching,112,technology,33,test,40,testimonial,15,testimonials,15,thailand,1,tips,60,trading,5,trading on equity,2,transaction,7,trend,12,trial balance,14,truthfulness,1,tuition,3,twitter,10,UAE,5,UGC - NET Commerce,13,UK,11,United Arab Emirates,1,university,9,usa,25,valuation,8,VAT,22,Video,36,Voucher and vouching,4,Wealth,8,wikipedia,25,working capital,29,youtube,14,
ltr
item
Accounting Education: Auditing and Assurance Standard 3
Auditing and Assurance Standard 3
http://2.bp.blogspot.com/-Qlep1Epe92M/UlF-BNDiWhI/AAAAAAAAMEg/yX9vixNFI7Q/s200/auditing.PNG
http://2.bp.blogspot.com/-Qlep1Epe92M/UlF-BNDiWhI/AAAAAAAAMEg/yX9vixNFI7Q/s72-c/auditing.PNG
Accounting Education
https://www.svtuition.org/2013/10/auditing-and-assurance-standard-3.html
https://www.svtuition.org/
https://www.svtuition.org/
https://www.svtuition.org/2013/10/auditing-and-assurance-standard-3.html
true
2410664366776677676
UTF-8
Loaded All Posts Not found any posts VIEW ALL Reply Cancel reply Delete By Home PAGES Contents View All RELATED CONTENTS FOR YOUR LEARNING Topic ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy