Current Audit File
The current audit file may involve inter alia:
a) A copy of the audited financial statements and other report prepared such as a conclusion of audit work carried out;
b) An annual audit programmed detailing the audit steps to be recording and taken the audit steps carried out;
c) Information of the audit plan, statement and staffing of the scope and involving time budgets and level of tests;
d) Schedules display an analysis of the specific items in the financial statements, the notice thereto the management's report; the schedules may illustrate comparative figures also and state how that the auditor has verified the ownership and existence the amounts and fairness of items of the presentation in the financial statements has been regarded. These schedules may contain the auditor's conclusions, and should be cross referenced for supporting schedules and external documentary evidence, as suitable;
e) Notes of meetings and all correspondence relating to the audit and other third party audit confirmations and involving all certificates;
f) Extracts from meetings of management, shareholders, directors and other relevant bodies;
g) Records of detailed audit tests accepted, the cause for the timing and level of the test, together along with the conclusions drawn from those tests;
h) The information received from the other auditors concerning the financial statements audited by them;
i) Records of queries raised through the auditors and how that such queries have been dealt along with;
j) a statement or letter from the management representing which they have supplied the auditors along with all the explanations and information relevant to the audit and disclosed in the financial statement all matters required through accounting and statute standards;
k) A review of post balance sheet date events upon to the date of signing the audit report;
l) Initials and Names of the audit staff.