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The purpose of accounting working papers is to provide a clear audit trail and support the accuracy of the financial statements. On the other hand, audit working papers are documents prepared by auditors during the audit process.
Audit working papers refer to the documents prepared by or use by auditors as part of their works. Those documents include summarizing the client’s nature of the business, business process flow, audit program or procedure, documents or information obtained from the client, and audit testing documents.
Definition: Working papers are informational reports prepared by accountants and auditors as supporting documents for formal reports and financial statements. In other words, working papers are reports prepared by accountants that summarize evidence found in client documents and are used by accountants to prepare financial statements .
Auditors should prepare and organise their working papers in a manner that helps the auditor carry out an appropriate audit service. The auditor should avoid preparing or accumulating unnecessary working papers, and should therefore avoid making extensive copies of the client’s accounting records.
2 sie 2024 · What are Audit Working Papers? Audit working papers are used to document the information gathered during an audit. They provide evidence that sufficient information was obtained by an auditor to support his or her opinion regarding the underlying financial statements. Working papers also provide evidence that an audit was properly planned and ...
Accounting working papers are documents created by accountants or auditors during the course of their audits, reviews, or compilation engagements. These documents contain the supporting evidence and detailed calculations that underpin the financial information presented in the reports.
Audit working papers are the documents which record during the course of audit evidence obtained during financial statements auditing, internal management auditing, information systems auditing, and investigations.
