Question: Explain why it is important for working papers to include each of the following: identification of the name of the client, period covered, description of

Explain why it is important for working papers to include each of the following: identification of the name of the client, period covered, description of the contents, initials of the preparer, date of the preparation, and an index code.

Step by Step Solution

★★★★★

3.43 Rating (169 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Working papers should include the following Name of client Enables the auditor to identify the appro... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

687-B-A-A-A-N (4266).docx

120 KBs Word File

Students Have Also Explored These Related Auditing Questions!

Explain why it is important for both individuals and organizations to behave ethically.

Explain why it is important for marketing researchers to be knowledgeable of research design.

Explain why it is important for ratings in an EFE Matrix to be 1, 2, 3, or 4 for any opportunity or threat.

Explain why it is important for audit documentation to include each of the following; identification of the name of client, period covered, description of the contents, initials of the preparer, date...

Explain why it is important for audit documentation to include each of the following: identification of the name of the client, period covered, description of the contents, initials of the preparer,...

the reviewer, dates of the preparation and review, and an index code. (If an input field is not used in the table, leave the input field empty; do not select a label.) In audit documents Name of the...

In gathering evidence to conduct an audit, it is important for the following information: identification of the name of the client, period covered, description of the contents, initial of the...

The moments and product of inertia for an L102 76 6.4-mm angle cross section with respect to two rectangular axes x and y through C are, respectively, Ix = 0.166 x 106 mm4, Ix = 0.453 x 106 mm4,...

Using data in Exhibit 1, calculate Coxs break-even point in sales dollars (per hen). Taking into account his cumulative revenue for a hen, during which week (approximately) will the break-even point...

the stock imanerdately. The reallzed return from derwary 2 2 0 0 8 , to Jinuary 2 . 2 0 0 9 is ( Round to two decinal places, ) \ % Definition ( Click on the following ican te in order to copy its...

What is a classified balance sheet?

Lajod Company has an internal audit department consisting of a manager and three staff auditors. The manager of internal audits, in turn, reports to the corporate controller. Copies of audit reports...

Superior Co. manufactures automobile parts for sale to the major U.S. automakers. Superior's internal audit staff is to review the internal controls over machinery and equipment and make...

Distinguish among the following three risks: risk-free interest rate, business risk, and information risk. Which one or ones does the auditor reduce by per-forming an audit?

E. Now assume that the equipments residual value could be as low as $0 or as high as $400,000, but $200,000 is the expected value. Because the residual value is riskier than the other relevant cash...

10. You are planning to buy a new car 3 years from today. The car will cost $22,000. How much do you need to deposit today in an account paying 2.5% compounded annually to reach your goal? A....

Risker investments require? A higher discount rate A lower discount rate It depends Risk has nothing to do with the discount rate Your company is analyzing the attractiveness of an investment in...