- This topic has 3 replies, 2 voices, and was last updated 3 years ago by
.
- Posts
Hi Kim,
Could you please tell me, any implications that if the audit client requests the audit team to provide a copy of audit working papers?
It is because I can’t identify what threats to the audit team. I just think it would only impair independence but unable to elaborate the threats.
Thank you for your help.
Regards,
CherryIf it’s the client’s own schedule/working paper, the client has it already. If it’s anything else it’s not the client’s(!) Audit working papers are the auditor’s alone and, technically, a client would have to go to court to have them released.
I would ask – for what possible purpose could the client want an audit working paper?
It could be that between the drafting of the financial statement by the client and their finalisation there are lots of adjustments – and the client needs a schedule to confirm all the adjustments in order to check that that they are all correctly posted to the general ledger. Anything like this should be agreed in the engagement letter.Certainly the auditor would not want a client to have sight of audit working papers that provide too much information about the audit methodology – e.g. basis of selecting [anything] that might compromise the conduct of an audit (i.e. a competence issue) if the client can then better predict what the auditor will examine.
Hi Kim,
That means the professional competence would be impaired for providing a sample of schedule to client if the audit client wants to understand their audit methodology.
Thank you so much!
Regards,
Cherry
- The topic ‘What implications for providing audit working papers to audit client’ is closed to new replies.