The working papers for a client contain both a permanent and a current file. The difference between the two files is that:

the permanent file includes documents that relate to the client and are relevant for more than one year's audit, and the

current file includes the details of work completed and evidence gathered that relate to the current year's audit.

the copy of the permanent file must be sent to a regulator $($PCAOB or State Board of Accountancy$),$ and the current file is

not.

the client maintains possession of the permanent file each year, but the auditor maintains possession of the current file.

the permanent file cannot be altered, but the current file can be altered.