Objective
To prepare audit documentation that provides a sufficient and appropriate record of the basis for the auditor's report, and evidence that the audit was planned and performed in accordance with the SAs.
Key requirements
- Sufficient detail for an experienced auditor with no previous connection to understand the work
- Documentation of: nature, timing, extent of procedures; results obtained; significant matters; conclusions
- Identification of preparer and reviewer of each significant working paper
- Final audit file assembled within 60 days of the auditor's report date
- Retention for at least 7 years (SQM 1)
Typical procedures
- Lead schedule per FS line item
- Working paper for each SA-driven procedure
- EQR documentation where applicable
- Cross-references between working papers
Common pitfalls
- Conclusions stated without supporting evidence cited
- Late changes to the file after sign-off without proper "subsequent event" documentation
- Working papers prepared but never reviewed — no reviewer initials
Related standards
On CORAA
Reproducible sampling, seeded selection, full audit trail. Every working paper is linked back to the underlying transaction.
Open the matching module →SA 230 in practice
SA 230 sits in the General phase of the audit. The Standards on Auditing are issued by the ICAI Auditing and Assurance Standards Board (AASB) and deemed to be prescribed by the Central Government under Section 143(10) of the Companies Act 2013. Compliance with SAs is mandatory for every audit conducted by a Chartered Accountant in India.
For authoritative text, refer to the ICAI AASB Compendium of Standards on Auditing at icai.org.
