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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › procedures to ensure safe custody and retention of working papers
chapter- Audit planning and documentation
Question- Explain the procedures to ensure safe custody and retention of working papers.
Not able to find answer on this in any text. need help
Not a lot to say:
ACCA rule book says working papers should be kept for 7 years.
In addition, they have to be kept securely and confidentiality must be maintained. Ideally they will be stored in a professional facility that guards against fire etc.
Working papers are the property of the auditors, not the client.
thank you Sir 🙂