PERMANENT AUDIT INDEX

 

PERMANENT AUDIT INDEX

 

Name of Client: XYZ Limited

Prepared by: Ms. ABC

Date: 10-January-2015

Ref: PAF INDEX

Year end: 31-Dece-2014

File no:

Reviewed by: Mr. ZYX

Date: 10-March-2015

         

 

 

                       PERMANENT AUDIT INDEX

 

1

General Information

 

1.1

Background of client

☑ 

1.2

Details of Bankers and Professional Advisors

1.3

Know Your Client Checklist

1.4

Register of laws and Regulations

1.5

Details of related parties

1.6

Significant Accounting Policies

1.7

Copy of current detailed risk assessment

2

Engagement Details

 

2.1

Letter of Engagement

2.2

Authorization Letter

2.3

Copy of resolution reappointment

2.4

Instruction from group auditors

2.6

New Client Checklist

2.7

Register of non-audit services 

       N/A

3

System and control

       ☑

3.1

System Notes

  • *

3.2

Control Assessment                 ( See Planning file)

3.3

Business Risk Assessment        (See Planning file)

3.4

Financial Statements  Level Risk Assessment    ( See Planning file)

3.5

Fraud and Error risk Assessment

3.6

Schedule of Significant Risks

3.7

Internal Control Questionnaire (See Planning file S4)

3.8

Organisation chart

3.9

Letters of comment(copies)

4

Statutory Information

         ☑

4.1

Memorandum and Articles of Association

4.2

Certificate of Incorporation.docx

4.3

List of shareholders

4.4

Details of mortgages/charges

4.5

Directors’ interests in shares and debentures

4.5

Copy annual return

4.6

Copy of elective resolutions

 

4.7

Minutes of important meeting

        ☑

4.8

Statutory Accounts

        ☑

5

Taxation

        ☑

5.1

Tax certificates

       ☑

5.2

Copy of Tax Return

       ☑

5.3

Advance Corporation Tax details

 

6

Assets

 

6.1

Details of freehold/leasehold properties

      ☑

6.2

Details of location of title deeds and Lease Agreements

      ☑

6.3

Details of intangible assets

      ☑

6.4

Investments in subsidiaries and associated undertakings

      ☑

6.5

Details of professional valuations

      ☑

6.6

Clients Insurance Cover Detail

      ☑

7

Bank Accounts, Loans and Agreements

 

7.1

Bank Accounts and Signatories

       ☑

7.2

Borrowing Facilities and loan agreements

       ☑

7.3

Copy of Bank over draft or loan facilities, security and covenants

       ☑

7.4

Details of contracts and agreements with index

       ☑

7.5

Details of share options

       ☑

7.6

Details of other loans

      ☑

7.7

Royalty Agreements

      N/A

8

Correspondence and information of continuing interest

 

8.1

Index

      ☑

8.2

Client’s other professional advisers

     N/A

9

Accounts

 

9.1

Signed copies of full accounts

      ☑

9.2

Signed copies of abbreviated accounts

      ☑

9.3

Company accounts disclosure checklist

      ☑

 

                         10. Review

 

Year

File updated by

Reviewed by

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Disclaimer: Dummy audit working files have been prepared and published to improve the quality of audit documentation of member firms providing audit services in Bangladesh. Member firms providing audit services should not assume these dummy working files as absolute benchmark for the purpose of preparing and keeping audit documentation. Every audit client has unique characteristics and risks. International Standards on Auditing (ISA) also requires to exercise engagement partner’s judgment on a number of areas in conducting the audit of an entity. Therefore, member firms should use their professional knowledge, skill, experiences along with these dummy working files to keep adequate and appropriate working papers for each audit engagement. The preparers do not assume any liability for drawing an inappropriate audit opinion based on the working papers prepared on the basis of these dummy working files.

 

 

Update Date : 05/08/2020

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