Wiley Practitioner's Guide to GAAS 2020

4AU-C 230 Audit Documentation

Scope

Definitions of Terms

Objective of AU-C Section 230

Requirements

Requirement for Audit Documentation

Form, Content, and Extent of Audit Documentation

Ownership and Confidentiality

Standardization of Audit Documentation

Preparation of Audit Documentation

Quality of Audit Documentation

Audit Documentation Deficiencies

Documentation Requirements in Other Sections

Interpretations

Providing Access to or Copies of Audit Documentation to a Regulator

AU-C 230 Illustrations

SCOPE

AU-C 230 concerns the audit documentation the auditor is expected to prepare. See also other standards, laws, or regulations. (AU-C 230.01)

DEFINITIONS OF TERMS

Source: AU-C 230.06. For definitions related to this standard, see Appendix A, “Definitions of Terms”: Audit documentation, Audit file, Documentation completion date, Experienced auditor, Report release date.

OBJECTIVE OF AU-C SECTION 230

AU-C Section 230.05 states that:

The objective of the auditor is to prepare documentation that provides

1. a sufficient and appropriate record of the basis for the auditor’s report; and
2. evidence that the audit was planned and performed in accordance with GAAS and applicable legal and regulatory requirements.

(AU-C Section 230.05)

REQUIREMENTS

Requirement for Audit Documentation

The auditor must prepare audit documentation, on a timely basis, in sufficient detail to provide evidence:

• About the conclusions reached; and
• That the audit was planned and performed in accordance with GAAS ...