ASIC Class Order [CO 12/1687]
F. DocumentationF. Documentation
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F. Documentation
Tasks
F.1 Engagement working papers
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Create and retain engagement working papers sufficient to enable an experienced SMSF auditor who has had no previous involvement with the engagement to gain an understanding of the work performed and the opinion reached.
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Auditors must document and be able to demonstrate the procedures adopted in order to be able to form an opinion on the financial report and on compliance matters. This includes that documentation of the nature, timing and extent of procedures performed identifying characteristics of the items or matters tested and who prepared and reviewed the audit work.
Related knowledge requirements
- Approved SMSF auditors must understand the audit and assurance engagement documentation requirements of the relevant ASAs and ASAEs in relation to the tasks specified in paragraphs 53 to 54.
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