Indexing the audit working papers essentially means preparing a Table of Contents. A well-organized set of working papers enables the auditor to understand the relationships of transactions and how they impact different accounts. It also enables the reviewers to perform their work more effectively and efficiently and to devote their attention to the critical audit areas.
There are many different ways that working papers could be indexed. The important consideration is that the organization and indexing be logical. This template is just one example of how the current working paper files might be indexed:
All materials contained on this site are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published, broadcast, performed nor used to prepare derivative works, without the prior written permission of AuditNet®. You may not alter or remove any trademark, copyright, logo or other notice from copies of the content. For further information, see section 1 of the Terms and Conditions and section 2 of the Subscriber Access Agreement.