Working Papers

Audit working papers are those paper which contains essential facts, important information and data of account which are under audit. It is a duty of an auditor to maintain his working papers as they supprot the audit report. The following points are included in audit working paper,

1. Working trial balance.
2. Adjusting journal entries.
3. Particulars of investment.
4. Particular of depreciation.
5. Schedules of debtors and creditors.
6. Schedule of fixed assets.
7. Certificate regarding the stock in trade.
8. Certificate regarding all the outstanding assets and liabilities.
9. Conclusion from minute book.

Objectives of Working papers:

1. To support auditor's report.
2. To present as a proof.
3. It helps the auditor to plan for the coming year.
4. Future audit work can be carried on in the same sequence on the basis of the previous working papers.
5. To point out the weaknesses of the internal control system.