Question

Which of the following most completely describes the appropriate content of internal audit assurance engagement working papers?

1) Documentation of the procedures performed and evidence obtained during the engagement
2) Summary of the findings and conclusions reached during the engagement
3) Detailed description of the audit objectives and scope
4) List of recommendations for improvement identified during the engagement

Answer 1

The appropriate content of internal audit assurance engagement working papers includes details of the performed procedures and obtained evidence, findings, audit objectives and scope, and a list of improvement recommendations.

Step-by-step explanation:

The appropriate content of internal audit assurance engagement working papers most completely includes:

• Documentation of the procedures performed and evidence obtained during the engagement.
• Summary of the findings and conclusions reached during the engagement.
• Detailed description of the audit objectives and scope.
• List of recommendations for improvement identified during the engagement.

Internal audit working papers serve as a record of the audit work performed, demonstrating compliance with auditing standards and enabling the preparation of the audit report. Keeping detailed and complete working papers is essential for providing transparency, facilitating review, and ensuring the quality of the audit.

Thus, the correct choice is 1) Documentation of the procedures performed and evidence obtained during the engagement, 2) Summary of the findings and conclusions reached during the engagement, and 3) Detailed description of the audit objectives and scope.