Audit documentation should be prepared in enough detail for an experienced auditor with no previous connection to the engagement to understand the work done and the conclusions reached. The file is closed within a set period after the report date and retained for the period required by law.
In POA inspections, audit quality is assessed largely through the audit documentation.
Source: BDS 230
Related terms
Audit evidenceAny information and documents the auditor uses to reach the conclusions on which the opinion is based.Engagement quality reviewAn objective evaluation, before the report date, of the engagement team's significant judgements and the conclusions reached, by an auditor from outside the team.Adverse opinionThe opinion in which the auditor states that the financial statements are not presented fairly, where misstatements are both material and pervasive.Agreed-upon proceduresAn engagement in which the practitioner performs procedures agreed with the entity and, where relevant, a third party, and reports only the findings without providing assurance.Analytical proceduresThe evaluation of financial information through analysis of plausible relationships among financial and non-financial data.Assurance engagementAn engagement providing assurance, against specified criteria, on a subject matter other than an audit or review of historical financial information.
Last updated: October 22, 2026 · This definition is for general information only.