What does AS 3 state in terms of sufficiency required of audit documentation and evidence it must provide?
Answer to relevant QuestionsDescribe how extensive audit documentation must be. What purposes must it be able to serve?What is the impact of ineffective oversight by the audit committee?Why should the auditor care about different classes of transactions for an account?What are some of the threats software and interface controls are intended to protect against? Which controls protect against different threats?Why does the period-end reporting process require extensive controls testing?
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