Page 219 - Internal Auditing Standards

Guide to Using International Standards on Auditing in the Audits of Small- and Medium-Sized Entities Volume 1—Core Concepts

Exhibit 16.7-1

Making Changes to the Audit File

The requirements when making changes to audit file are as follows.
Exhibit 16.7-2

Period Dates Requirements
For administrative changes:
• Document the nature of audit evidence obtained, who prepared and
1 BETWEEN reviewed each document, and any additional memos to file that may

the Audit
be required;
Report Date and
• Delete or discard superseded documentation;
Documentation
• Sort, collate, and cross-reference working papers; and
Completion Date

• Sign off any completion checklists relating to the fi le assembly
process.
For changes in the audit evidence or conclusions reached, additional
documentation should be prepared that addresses three key
questions:
• When and by whom such additions were made and (where
applicable) reviewed;
• The specific reasons for the additions; and

• The effect, if any, of the additions on the audit conclusions.

NO documentation should be deleted or discarded from the audit fi le until

the fi rm’s file retention period has expired.
2 AFTER
the Documentation Where it is necessary to make additions (including amendments) to audit
Completion Date documentation after the documentation completion date, the three key
questions about changes in audit evidence, outlined in Period 1 above,
should be answered, regardless of the nature of the additions.

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