What is audit documentation?

What is audit documentation?

Audit documentation refers to the records and evidence collected during an audit to support findings and conclusions.

Why is it important to maintain proper audit documentation?

Proper audit documentation ensures transparency, supports compliance, and provides a basis for future audits or reviews.

What are the key components of audit documentation?

Key components include audit plans, working papers, evidence collected, and final reports.

How long should audit documentation be retained?

Typically, audit documentation should be retained for at least 5 to 7 years, depending on regulatory requirements.

Can you give me examples of audit documentation?

Examples include checklists, interview notes, financial statements, and correspondence with clients.