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Monograph - The AuditNet ® Monograph Series Workpaper Documentation Guide

Name

Monograph - The AuditNet ® Monograph Series Workpaper Documentation Guide

Description

DEFINING THE NECESSARY AND NATURE OF AUDIT WORKPAPERS

Workpapers are the direct end product of the internal audit staff’s work and effort.  The workpapers demonstrate what was done – what was found – and what was confirmed.   Internal audit workpapers provide various levels of usefulness:

A. During the audit adequately prepared workpapers provide
1. Guidance as to the objective of the examination
2. Guidance as to the sequence of steps and development of
assurance
3. Documentation that the office being evaluated has conformed to
statutory requirements
4. Documentation that accounting policies and procedures are being
conform with, and
5. Documentation that the company auditor’s office has performed
the duties of the office as required by existing state statutes.

B. After the audit is completed the workpapers provide
1. Evidence that support the findings as reported
2. Evidence that the internal audit was performed following
established and accepted methodology
3. Evidence concerning the need to conform to the state statutes
4. Evidence which can be relied on by the external auditors, and
5. In the event the auditee finds himself or herself in court trying to
defend the findings, the workpapers provide an excellent defense
and support for the reports’ findings.

Standard (Non-IT) Audit Program

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