Professional Documents
Culture Documents
Documentation For Statutory Audit
Documentation For Statutory Audit
Clarity and Understanding Completeness and Accuracy Pertinence Logical Arrangement Legibility and Neatness Safety Initial and Date Summary of conclusions
Summarizing of overall findings Writing of queries Discussing with seniors on matters of importance Disposing of Query -at staff level/ senior level/ partner level Working papers to be signed, dated and approved by relevant level of audit staff with sufficient cross reference Depicting the clients name, file number, accounting period, subject of working paper and reference of working paper with current or permanent file
Filing/keeping of working papers Checklist of documents to be obtained and maintained Indexing of documents/ working papers Proper numbering/ sequencing of working papers
As per the excel sheet attached The list has been made specifically for statutory audit
Appointment is to be notified to ROC 23B Request from company to confirm willingness to act as auditors Confirmation to act as auditors and within limits prescribed under 224(1)(b) Intimation by company as appointment Acceptance of appointment Form 23B filing Engagement letter
Lead schedules (Final leading to the main balance sheet) Detailed trial balance summing up to lead schedule Checklists Work papers + supporting documentation + noting of work done on the documents Numbering and cross referencing Signing off by preparer and reviewer
Completion of review points raised by partner Complete set of financial statements with schedules linked to the trial balance disclosure as per revised Schedule VI. Audit report and CARO report Checklists Accounting standards compliances, Schedule VI checklist and CARO checklist completed and signed off by partner Summary review memorandum Letter to management Letter of representation
Scope of engagement Impact of significant events during the year Significant auditing and accounting issues Reasons of major variances in different items of Balance sheet and profit and loss account Internal control weaknesses observed Contingent liabilities and commitments Post balance sheet events Conclusion of audit
Highlighting important issues noted during the course of audit to the management
Accounting and audit issues Internal control issues Recommendations on improvement of existing controls Any other important non compliance
Management representation
Additional audit evidence Acknowledgement of management of its responsibilities of the financial statements Standard format for representation
Signed copies of financial statements to be on file + signed audit report Signed Letter of representation on file File properly numbered, cross referenced and signed off by partners hard copy filing to complete Soft copies of final financial statements. Audit report and other audit documentation to be stored on final folder on MS Data
Tax audit
Final tax audit report with annexures Tax audit checklist Tax audit work papers
Tax return
Final computation signed off by preparer and partner + tax partner ITR copy ITR acknowdgement signed
Separate file to be prepared for the above Soft copies to be stored on MS data relevant folder