Objective / Important /purpose of audit working papers
The working paper serves following purposes:
1. They represent the volume of work performed by the auditor and his staff,
which helps in preparing the report.
2. They show the extent of adherence to accounting principles and auditing
standards.
3. They are useful as evidence against the charge of negligence.
4. They act as guide for subsequent examinations.
5. They enable the auditor to know the weakness of the internal check system in
operation as also the accounting system.
6. They assist the auditor in coordinating and organizing the work of audit
clerks.
7. They assist in planning and performance of audit work.
08. IT provides guidance to the audit
staff regards to the manner of
checking the schedules.
09. The auditor is able to fix responsibility on the staff member who signs each
schedule checked by him.
Working papers should record:
(a) planning information
(b) the work done and when it was done
(c ) results and conclusions.