State any three components of audit working paper

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An important aspect of audit is to document all the information gathered by the auditor in a proper manner. This documentation is known as audit working paper.

Required:

Problem i. State any THREE (3) components of audit working paper.

Problem ii. Determine the appropriate types of audit working paper for the following items:

1. Summary of accounting principles used by the organization.
2. Analyses of transactions and balances.
3. Copies of communication with experts and other third parties.
4. Loan agreements, schedules of amortization for debts and special assets. Evidence of inherent and control risk assessments and any revisions

Reference no: EM132765684

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