Two series audit documentation-
- 1. 1. NUR ATIQAH AMALINA BINTI ZULKEPLI 10DAT17F1002 2. NURULADRIANA BINTI HAMDAN 10DAT17F1006 3. NUR AINA NASHA BINTI NASHARUDDIN 10DAT17F1030 4. SITI NUR SYIFA BINTI AMRAN 10DAT17F1036 5. MUHAMMAD ANIS SYAFIQ BIN WAHEED TAJUDEEN 10DAT17F1058
- 2. 7.1 INTRODUCTION 7.2 NATURE AND PURPOSE OF AUDIT DOCUMENTATION 7.3 CONCEPTUAL OF GRADATIONS OF RECORD OF AUDIT EVIDENCE 7.4AUDIT DOCUMENTATION 7.5AUDIT FILES 7.6 AUDIT PROGRAMME
- 3. “Audit documentation that meets the requirements of this ISA and the specific documentation requirements of other relevant ISAs provides: • Evidence of the auditor’s basic for a conclusion about the achievement of the overall objectives of the auditor; and • Evidence that the audit was planned and performed in accordance with ISAs and applicable legal and regulatory requirements.” AUDIT DOCUMENTATION
- 4. Assits the engagement team in planning and performing the audit Assits the engagement team to demonstrate that the audit work was performed properly Record matters of continuing significance for future audits of the company To guide the auditor to provide reasonable assurance that an adequate record of audit documentation supports audit evidence enabling the auditor to communicate via audit report PURPOSES OF AUDIT DOCUMENTATION
- 5. CONCEPTUAL OF GRADATIONS OF RECORD OF AUDIT EVIDENCE
- 6. AUDIT PROGRAMME Examples: Audit Completion Memorandum, Audit Planning Memorandum, Internal Control Questionnaires, and Audit Programme for funding cycle, investing cycle, conversion cycle, revenue cycle, expenditure cycle and taxation AUDIT FILES • Permanent files • Current files AUDIT DOCUMENTATION • Also known as Working Paper or Workpaper
- 7. Content of Audit Documentation Spesific Documentation Requirements Organization of Documentation Typical Documentation Electronic Documentation
- 8. THE NATURE,TIMING AND EXTEND OF THE AUDIT PROCEDURES PERFORMED TO COMPLY WITH THE ISAs AND APPLICABLE LEGAL AND REGULATORY REQUIREMENT. THE RESULTS OF THE AUDIT PROCEDURES PERFORMED AND THE AUDIT EVIDENCE OBTAINED ANY SIGNIFICANT MATTERS ARISING DURING THE AUDIT,THE CONCLUSION REACHED THEREON,AND SIGNIFICANT PROFESSIONAL JUDGEMENTS MADE IN REACHING THOSE CONCLUSIONS. CONTENT OF AUDIT DOCUMENTATION
- 9. 1-THE NATURE,TIMING AND EXTEND OF THE AUDIT PROCEDURES PERFORMED TO COMPLY WITH THE APPLICABLE LEGAL,REGULATORY AND PROFESIONAL REQuirement *the existence of adequately audit planed. *the existence signed engagement letter. *AN APPROPRIATELY QUALIFIED OPINION IN AN AUDITOR`S REPORTS
- 10. THE AUDITORS SHOULD RECORD AS AUDIT DOCUMENTATION DEPENDING ON THE NATURE,TIMING AND EXTENT OF THE AUDIT PROCEDURES SUCH PARTICULARS AS: *THE IDENTIFYING CHARACTERISTICS OF THE SPECIFIC ITEMS OR MATTERS TESTED *WHO PERFORMED THE AUDIT WORK AND THE DATE SUCH WORK WAS COMPLETED AND *WHO REVIEWED THE AUDIT WORK PERFORMED AND THE DATE AND EXTENT OF SUCH A REVIEW
- 11. 2-THE RESULTS OF THE AUDIT PROCEDURES AND THE AUDIT EVIDENCE OBTAINED. 3- THE NATURE OF SIGNIFICANTMATTERS ARISING AND THE CONCLUSION REACHED.DOCUMENTATION OF THE PROFESSIONAL JUDGEMENT MADE,WHERE SIGNIFICANT,SERVES TO EXPLAIN THE AUDITOR`S CONCLUSION AND TO REINFORCE THE QUALITY OF THE JUDGEMENT.
- 12. THE FACTORS ARE: 1-the size and complexity of the company 2-the nature of the audit procedures to be performed 3-the identified risks of material misstatement 4-the significance of the audit evidence obtained 5-the nature and extent of exceptions identified 6-the need to documents a conclusion or the basis for a conclusion not readily determinable from the documentation of the work performed or audit evidence obtained 7-the audit methodology and tools used.
- 14. RISK ASSESSMENT RESPONSES TO ASSESSED RISKS IDENTIFICATION OF PREPARES AND REVIEWERS RESULTS OF PERFORMING AUDIT PROCEDURES AND THE AUDIT EVIDENCE OBTAIN SIGNIFICANT MATTERS REPORTING KEY DATES
- 15. TYPICAL DOCUMENTATION GROUPED ACCOUNTS SCHEDULE OTHERS SCHEDULE ANALYSES DOCUMENTATION OF SIGNIFICANT ISSUES PERMANENT DOCUMENTATION
- 16. ELECTRONIC DOCUMENT WORK IN PROGRESS STATIC INFORMATION
- 17. IN AUDIT FILES WE HAVE 3 TYPES : PERMANENT FILES CURRENT FILES CORRESPONDENCE FILES
- 18. Containing documents which we continually refer over number of years . Information that is relevant for multiple years of recurring engagement . These files are intended to contain data of a historical or continuing nature pertinent to the current audit . PERMANENT FILES
- 19. Containing all working papers relevant to the year under audit . Information relevant for a given audit client for a particular audit year . In current files have are : -Audit Program , General Information , Working trial balance , Adjusting and Reclassification entries , and Supporting schedules CURRENT FILES
- 20. Analysis Trial balance or List Reconciliation of Amounts Test of reasonableness Summary of Procedures Examination of supporting documents Informational Outside Documentation Types of schedules
- 21. The working papers are the auditor`s property , not the clients . In most cases , an auditor cannot reveal information in working papers without the client`s permissions. OWNERSHIP AND CONFIDENTIALITY
- 22. 1.DEFINE AUDIT PROGRAMME 2.PURPOSE AUDIT PROGRAMME 3.CONTENT AUDIT PROGRAMME 4.PROVIDE THE SAMPLE OF AUDIT PROGRAMME 5.THE ADVANTAGES & DISADVANTAGES OF USING AUDIT PROGRAMME
- 23. DEFINE AUDIT PROGRAMME Detailed listing of the steps to be performed as part of the procedures to complete an audit. Provides guidance as to what the audit personnel involved need to do and set out the nature, timing, and extent of planned audit procedures required to implement the overall audit plan.
- 24. The main purpose of an audit programme is to enable effective delegation of the actual detailed audit work needed to implement the audit strategy. Example of audit programme : Provide a basis for planning the following years of audit. Provide evidence that the work has been done in accordance with generally accepted auditing standard. Facilitate review of the work done. PURPOSE AUDIT PROGRAMME
- 25. The size and complexity of the company The nature of the audit procedures to be performed The identified risks of material misstatement The significant of the audit evidence obtained The nature and extent of exceptions identified The audit methodology and tools used CONTENT AUDIT PROGRAMME
- 26. Cash Inventory Account Payable Account Receivable SAMPLE OF AUDIT PROGRAMME
- 27. ADVANTAGES DISADVANTAGES • SUPERVISION OF WORK • AUDIT PROGRAM INCREASES THE CHANCE OF FRAUD • SYSTEMATIC UNIFORMITY OF WORK • POSSIBILITY OF BEING UNSUITABLE • BASIC INSTRUMENT FOR TRAINING • AUDIT PROGRAM IS UNSUITABLE TO SMALL CONCERN • EASY TRANSFER • EXCLUSION OF PROBLEM OF NEW TECHNOLOGY ADVANTAGES & DISADVANTAGES OF AUDIT PROGRAMME
- 28. THANK YOU -TWO SERIES -