Evaluate severity, compensating controls and combined deficiencies, then record the classification, rationale and remediation.
Standard / scope: ___ | Period: ___ | Prepared by: ___ | Date: ___
Use one worksheet per deficiency or per group of related deficiencies. Evaluate severity by whether there is a reasonable possibility that a material misstatement would not be prevented or detected on a timely basis, and how large it could be. Classification as control deficiency, significant deficiency or material weakness is a judgement made against the current standard and your methodology.
This template follows the format published by the Institute of Chartered Accountants of India (ICAI) in the AASB Audit Working Paper Templates (June 2023), the authoritative reference for Indian statutory-audit documentation. Fill in your firm’s letterhead and the engagement details on the form above, click Download Word file, and you’ll get a fully formatted .docx ready to use.
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