ASA 230 - Audit Documentation - April 2006
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Main Features
This Auditing Standard establishes mandatory requirements and provides explanatory guidance on audit documentation and:
(a) requires the auditor to prepare, on a timely basis, audit documentation that provides: (i) a sufficient and appropriate basis for the auditor’s report; and (ii) evidence that the audit was performed in accordance with Auditing Standards and applicable legal and regulatory requirements;
(b) describes the form, content and extent of audit documentation;
(c) requires the assembly of the final audit file, including the prohibition of deletions and the permission for certain modifications and additions, on a timely basis after the date of the auditor’s report;
(d) requires that, when exceptional circumstances arise after the date of the auditor’s report that require the auditor to perform new or additional audit procedures or that lead the auditor to reach new conclusions, the auditor shall document certain matters; and
(e) requires the auditor to adopt procedures for maintaining the confidentiality, safe custody, integrity, accessibility and retrievability of audit documentation.