Permanent audit file
A permanent audit file holds information of continuing relevance to successive audits, such as constitutional documents and long-term contracts. The auditor must keep the information current and assess relevance each year.
Worked example
A long-term loan agreement and the entity’s constitution are retained for future audit reference.
Common mistake
Do not assume a document remains valid simply because it is in the permanent file.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | AA | Direct | September 2026–June 2027 |